Discounter B&M continues to thrive

Discount retailer B&M reported a sharp rise in third quarter sales, helped by record Christmas trading.

The group posted a 22.7% rise in sales to £969.8 million in the 13 weeks to December 23, with like-for-like sales growing 3.9%.

It said the performance reflected its new store opening programme.

Soaring inflation caused by the collapse of the Brexit-hit pound has pushed up the price of everyday items for hard-pressed shoppers and, in these conditions, B&M has thrived.

Ceo simon arora said:“b&m continues to go from strength to strength.

“Despite the demanding comparatives from the very strong Christmas in 2016, our buying, supply chain and retail teams achieved another outstanding performance this year.”

B&M added it is confident of meeting market expectations for its full-year performance.