Retailer Thrives Amidst Covid-19 Crisis

  • B&M reports strong revenue growth in H1
  • Group revenue up by 25.3%
  • B&M UK stores’ revenue growth at 29.5%
  • Like-for-like growth of 23% in Q2
  • Adjusted EBITDA expected around £285m
  • Upgraded guidance on new store openings to 40-45 B&M UK gross openings this financial year

Discount retailer B&M has reported strong revenue growth in its first half of trading, with group revenue increasing by 25.3% for the period ended 26 September 2020. B&M UK stores saw a 29.5% increase in revenue, including like-for-like growth of 23%. The company’s trading momentum was maintained throughout Q2, with a 19.1% like-for-like growth and an exit rate at similar levels. Due to this performance, B&M now expects its adjusted EBITDA to be around £285m, above the previously guided range of between £250m and £270m. The retailer has also upgraded its guidance on new store openings for the financial year, anticipating 40-45 B&M UK gross openings, most of which are scheduled for Q4. CEO Simon Arora praised employees’ commitment and resilience during the Covid-19 crisis.

Factuality Level: 10
Factuality Justification: The article provides accurate information about B&M’s revenue growth, like-for-like growth, adjusted EBITDA expectations, and the CEO’s statement on the company’s performance during the Covid-19 crisis. It is free from sensationalism, redundancy, personal perspective, and logical errors.
Noise Level: 3
Noise Justification: The article provides relevant information about B&M’s revenue growth and the company’s performance during the first half of trading, including specific numbers and a CEO quote. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions on those who bear the risks.
Financial Relevance: Yes
Financial Markets Impacted: B&M’s stock price and retail sector
Financial Rating Justification: The article discusses B&M’s strong revenue growth and updated guidance on new store openings, which can impact the company’s financial performance and the retail sector as a whole.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk