Value homewares retailer B&M Homestore has posted a continued ‘strong’ growth in its first quarter trading for the 13 week period from 27 March to 25 June 2016, with sales up by 21.5% to £554.8m.
B&M group revealed that UK sales generated £508.1m, up by 21.3% from £418.8m last year, with underlying like-for-like sales up by 1.7%. Within its German-based business, Jawoll, sales rose by 23.5% to £46.7m.
B&M opened 12 new stores in the UK during the quarter, bringing its total store estate to 511, and plans to open a further 50 within this financial year – while also plotting an ambitious UK store target of 850 stores for future growth.
Simon Arora, group chief executive, said: “Against a highly competitive backdrop, our robust and compelling retail business model delivered 21% growth over this quarter. We have a well-defined and clear strategy for further growth and for B&M it remains ‘business as usual’ despite broader general economic uncertainty.
“Our outstanding value for money proposition to customers leaves us well-placed to continue to win market share.”