Overview

• 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.