[ADVERT]
Share Name Share Symbol Market Type Share ISIN Share Description
B&m European Value Retail S.a. LSE:BME London Ordinary Share LU1072616219 ORD 10P (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.40 -0.9% 594.60 596.20 596.80 599.60 591.40 599.40 1,151,578 16:35:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 4,801.4 525.4 42.8 13.9 5,946

B&M European Value Retail S.A. Trading Statement

08/07/2021 7:00am

UK Regulatory (RNS & others)


B&m European Value Retail (LSE:BME)
Historical Stock Chart


From Jun 2021 to Sep 2021

Click Here for more B&m European Value Retail Charts.

TIDMBME

RNS Number : 5017E

B&M European Value Retail S.A.

08 July 2021

8 July 2021

B&M European Value Retail S.A.

Q1 FY22 Trading Update

Strong start to the Financial Year, on track with our plans

B&M European Value Retail S.A. ("the Group"), the UK's leading variety goods value retailer, today provides a trading update for the first quarter ("Q1") of its current financial year ("FY22"), relating to the 13 week period from 28 March 2021 to 26 June 2021.

Highlights

-- Group revenue growth in Q1 FY22 of +3.1 % on a constant currency basis (1) (Q1 FY21: +27.7%)

-- Core B&M UK fascia(2) delivered two-year like-for-like(3) ("LFL") revenue growth of +21.3% versus pre-pandemic levels of FY20. On a one-year basis, LFL revenues were -4.4% (Q1 FY21: +26.9%)

-- Trading patterns were volatile throughout the quarter , with a pull-forward in Gardening demand boosting LFL in the final two weeks of FY21 and early weeks of FY22, and also depressing the subsequent weeks

   --      7 gross new B&M UK fascia (2) stores opened in Q1, with 4 closures 

-- Heron Foods(2) delivered a satisfactory performance against the very strong comparatives of Q1 FY21 and in the context of grocery spending showing signs of normalising

-- In France, revenues increased by 26.9%, with Q1 both this year and in the prior year being impacted by 6 weeks of varying lockdown restrictions

-- While it continues to be too early in FY22 to accurately predict likely revenue and profitability outcomes, the Group is on track with its plans for the year and expects the two-year LFL in the core B&M UK business to remain strong

Simon Arora, Chief Executive, said,

"The Group has made a strong start to the new financial year and sales remain significantly above pre-pandemic levels. As expected, trading throughout the first quarter was volatile as we annualised against the high comparatives from last year.

Although there remains much uncertainty as to how consumer spending evolves over the coming months, we remain optimistic that our combination of exceptional value across a wide range of product categories and our convenient Out of Town locations will continue to resonate with customers."

Revenue

 
                                              Q1              Q1 
                                              FY22            FY21 
 
   Total Group revenues                    GBP1,188.8m     GBP1,154.8m 
 
   B&M UK(2, 4)                            GBP1,018.6m      GBP987.8m 
 
   Heron Foods(2)                           GBP101.7m       GBP113.0m 
 
   Babou                                    GBP68.5m        GBP54.0m 
                                        --------------  -------------- 
 Total Group revenue growth (constant 
  currency)(1)                               +3.1%          +27.7% 
                                        --------------  -------------- 
 B&M UK one-year LFL(3) revenue 
  growth                                     -4.4%          +26.9% 
                                        --------------  -------------- 
 B&M UK two-year LFL(3) revenue             +21.3%            n/a 
  growth 
                                        --------------  -------------- 
 

Store Roll Out

 
                         Q1        Q1 
                         FY22      FY21 
 
   Number of Stores 
 
   Group                 1,097     1,053 
 
   B&M UK                 684       656 
 
   Heron Foods            308       295 
 
   Babou                  105       102 
                      --------  -------- 
 

1. Constant currency comparison involves restating the prior year Euro revenues using the same exchange rate as that used to translate the current year Euro revenues.

2. References in this announcement to the B&M UK business includes the B&M fascia stores in the UK except for the 'B&M Express' fascia stores. References in this announcement to the Heron Foods business includes both the Heron Foods fascia and B&M Express fascia convenience stores in the UK.

3. One-year like-for-like revenues relate to the B&M UK estate only (excluding wholesale revenues) and include each store's revenue for that part of the current period that falls at least 14 months after it opened compared with its revenue for the corresponding part of FY21. This 14 month approach has been adopted as it excludes the two month halo period which new stores experience following opening. Two-year like-for-like revenues also relate to the B&M UK estate only, and includes each store's revenue for that part of the current period that falls at least 26 months after it opened compared with its revenue for the corresponding part of FY20.

   4.     B&M UK revenues in Q1 FY22 include GBP13.2m of wholesale revenues (Q1 FY21: GBP11.0m). 

Enquiries

B&M European Value Retail S.A.

For further information please contact +44 (0) 151 728 5400 ext 5763

Simon Arora, Chief Executive

Alex Russo, Chief Financial Officer

Jonny Armstrong, Head of Investor Relations

Investor.relations@bandmretail.com

Media

For media please contact +44 (0) 207 379 5151

Sam Cartwright, Maitland

bmstores-maitland@maitland.co.uk

Notes to editors

B&M European Value Retail S.A. is a variety retailer with 684 stores in the UK operating under the "B&M" brand, 308 stores under the "Heron Foods" and "B&M Express" brands, and 105 stores in France operating under both the "Babou" and "B&M" brands as at 26 June 2021. It was admitted to the FTSE 100 index on 21 September 2020.

The B&M Group was founded in 1978 and listed on the London Stock Exchange in June 2014. For more information please visit www.bmstores.co.uk .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTEAFXXESSFEFA

(END) Dow Jones Newswires

July 08, 2021 02:00 ET (06:00 GMT)

1 Year B&m European Value Retail Chart

1 Year B&m European Value Retail Chart

1 Month B&m European Value Retail Chart

1 Month B&m European Value Retail Chart
ADVFN Advertorial
Your Recent History
LSE
BME
B&m Europe..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20210926 12:53:56