Discount chain B&M emerges as Xmas winner

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

B&M posted a 22.7 per cent rise in sales to £969.8 million in the 13 weeks to 23 December, with like-for-like sales growing 3.9 per cent.

The group said that the stellar performance reflects its store opening programme, with 19 outlets added in the period.

Risinginflationcausedbythe slump in the Brexit-hit pound has pushed up the price of eve- ryday items for hard-pressed shoppers and, in these conditions, B&M has thrived.

Boss Simon Arora said: “Despite the demanding comparatives from the very strong Christmas in 2016, our buying, supply chain and retail teams achieved another outstanding performance this year by doing what we do best, which is delivering great value for customers week-in, weekout.”

B&M is confident that it will meet market expectations for earnings in the year to March.

Thanks to the solid sales performance, the group is on course to meet market hopes for profits