Discount Retailer Closes Some Stores for Expansion and Better Locations

  • B&M announces store reshuffle
  • Closure of some stores due to moving to bigger sites or external factors
  • EBITDA expected to be between £605m and £625m, higher than analysts’ estimate of £578m
  • Total UK revenue down 2.5% year-on-year in Q3 but up 14.0% on a two-year basis compared to pre-pandemic levels
  • Strong performance across categories and sell-through of seasonal ranges
  • Group reported year-on-year revenue growth of 0.1% in the quarter
  • Opening of nine new UK stores in the period, plans to open 13 more by end of FY22

Discount retailer B&M has announced a store reshuffle, closing some locations due to moving to bigger sites or external factors such as shopping centers closing or leases expiring. This includes stores in Kilmarnock, Stockton, Bristol, and Newport. Despite a 2.5% year-on-year revenue drop in Q3, the company’s EBITDA is now expected to be between £605m and £625m, surpassing analysts’ estimate of £578m. B&M has reported strong category performance and sell-through of seasonal ranges, leading to a 14% revenue increase on a two-year basis compared to pre-pandemic levels. The group also opened nine new UK stores in the period and plans to open 13 more by the end of FY22.

Factuality Level: 8
Factuality Justification: The article provides accurate information about B&M’s store closures and its financial performance. It cites specific examples of stores closing and reasons for those closures, as well as discussing the company’s overall financial outlook and growth plans.
Noise Level: 4
Noise Justification: The article provides relevant information about B&M’s store closures and its financial performance. It also mentions the reasons behind the closures and the company’s expansion plans. However, it could provide more in-depth analysis of the factors affecting retail businesses and the industry as a whole.
Financial Relevance: Yes
Financial Markets Impacted: B&M’s guidance for FY22, revenue growth, and store expansion plans
Financial Rating Justification: The article discusses B&M’s financial performance, guidance, and store closures due to external factors. It also mentions the company’s plan to open new stores, which can impact its overall revenue and financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: No extreme events mentioned in the article, just a retailer closing some stores due to reshuffling and external factors.

Reported publicly: www.retailsector.co.uk