B&M has seen its full year revenues decline by 2.7% year-on-year to £4.67 billion, but sales were up 22.5% when compared to pre-pandemic levels two years ago.
In the year to 26 March, the retailer’s group statutory pre-tax profit remained flat at £525 million.
While B&M UK fascia revenue decreased by 4.1% year-on-year, driven by a one-year like-for-like revenue decline of 9%, like-for-like revenues at the fascias were 13% up on a two year basis due to the retention of new customers following the pandemic.
B&M opened 34 new stores in the year and closed or relocated 14.
Looking ahead, the company said it was difficult to accurately predict the impact of rising inflation on product cost prices and consumer spending, and the extent of further “normalisation” in customer behaviour following the pandemic.
