B&M Cuts Profit Forecast and Announces CEO Retirement as Economic Challenges Mount

The discount retailer cites an uncertain economic outlook and exchange rate volatility for its reduced earnings guidance, with CEO Alex Russo set to step down after two and a half years.

B&M has downgraded its profit forecast for the financial year ending March 2025 to between £605 million and £625 million, down from an earlier estimate of up to £650 million.
The company attributes the revision to challenging trading conditions, an uncertain economic climate, and potential impacts of exchange rate fluctuations on stock valuation.
CEO Alex Russo will retire on April 30, 2025, after serving as chief executive for two and a half years and overseeing growth in the UK and France.
B&M shares fell by 7.7%, marking the largest drop in the FTSE 250 on Monday, and the company has seen its stock price decline nearly 49% over the past year.
Retailers across the UK are grappling with increased costs following the October Budget, which included higher employer National Insurance contributions and a rise in the national minimum wage.