France Fuels B&M Growth
B&M Q1 Revenue Climbs as France Delivers Strong Growth; UK Sales Decline Seasonally
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Key Points
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France delivered standout growth, with revenue rising 145% year on year to £156m and a mid-single-digit increase in like-for-like (LFL) transaction volumes as strong retail execution and merchandising attracted footfall.
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UK general merchandise improved and garden/outdoor stock levels were normalised, with general merchandise returning to growth in May and June as the seasonal lull eased.
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Heron Foods contributed £142m of revenue in the quarter, supported by Easter‑period sales and clearance activity.
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B&M appointed Atheeq Akbar as CFO to help rebuild group profitability and bolster its competitive position in value retail.
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France’s momentum was also highlighted with a 14.6% revenue rise and LFL growth of 5.3%, driven by higher footfall and new store openings.
B&M European Value Retail posted a 2% rise in group revenue for the first quarter of FY27, reaching around £1.43 billion This Is Money. The gain was driven by a standout performance in France and a solid contribution from Heron Foods, even as UK like-for-like sales fell 2.3%.
CEO Tjeerd Jegen called the UK dip a seasonal effect, not a structural one. He pointed to a slow start to the garden season as the main drag, and said France and Heron Foods are now the engine of near-term growth ADVFN.
France Surges 145%, Becoming B&M's Growth Engine
France was the clear standout this quarter. Revenue jumped 145% year on year to £156 million Yahoo Finance. Like-for-like transaction volumes rose by a mid-single-digit percentage, driven by stronger footfall and better in-store merchandising.
A separate measure showed France's revenue up 14.6% with like-for-like growth of 5.3% ADVFN. New store openings added to the momentum. France is now a key pillar of B&M's broader diversification away from the UK market.
UK Garden Slump Drags Down Like-for-Like Sales
UK sales came in near £1.14 billion, roughly flat year on year MarketScreener. The 2.3% fall in like-for-like sales was tied to weak demand for garden and outdoor products during the spring season.
B&M cleared excess garden stock to normalise inventory levels. General merchandise then returned to growth in May and June as the seasonal lull eased This Is Money. The company said autumn and winter ranges are expected to improve margins as they arrive in stores.
Heron Foods Adds £142m as B&M Leans on Acquisitions
Heron Foods contributed £142 million in revenue during the quarter ADVFN. Easter-period sales and clearance activity helped boost those numbers. B&M has leaned on the acquisition to plug the gap left by softer UK trading.
New CFO and Price Push Signal B&M's Turnaround Plan
B&M appointed Atheeq Akbar as its new CFO Yahoo Finance. The hire is part of the company's Back to B&M Basics plan, which aims to rebuild profitability and sharpen its competitive edge in value retail.
The plan includes cutting the number of FMCG product lines — a process called SKU rationalisation — to focus on the best-selling items. B&M is also pushing on price competition to attract budget-conscious shoppers LSE. Jegen said the company is making real progress, even if near-term profits face pressure.
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