Liverpool value retailer B&M is seeing its troubles continue as annual profits plummet 47.3% to £227m. Tony McDonough reports

Despite efforts to get back on track Liverpool value retail chain B&M is reporting plunging profits.

In an update to the stock exchange on Wednesday, B&M said sales for the 12 months to March 28, 2026, had come in 3.6% higher at just under £5.8m but pre-tax profits plunged 47.3% to £227m.

B&M, which has its headquarters and main distribution hub at Speke in south Liverpool, operates almost 800 UK B&M stores as well as more than 300 frozen food outlets under the Heron Foods brand and around 150 B&M stores in France.

Amid a profit warning and the departure of its finance director late last year, B&M had implemented a turnaround plan that included lower prices and a streamlined product range.

Chief executive Tjeerd Jegen said on Wednesday: “FY26 was a difficult year that saw profits fall due to a challenging market and execution issues.

“We launched our Back to B&M Basics plan in October to restore like-for-like sales growth at B&M UK, which was flat overall versus FY25 while showing sequential improvement.

“The past six months has seen us sharpen our pricing, improve on-shelf availability in best-selling brands and revamp our in-store promotions.”

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He added: “FY27 remains a year of investment as we work hard to deliver growth under Back to B&M Basics and balance new store growth with investing in our store formats under phase 2 of our strategic plan.

“We are confident we can offset rising energy costs in the year ahead through cost mitigation, the benefits of which will flow through to our bottom line once we have returned B&M UK like-for-like sales to growth.”