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2w ago

B&M Q1 Revenues Climb 4.4% as Jegen Eyes Margin Improvement

Activating its Ellesmere Port import hub alongside 22 new store openings enhances the chain’s logistics capacity before the Golden Quarter.

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B&M struggled to shift fast-moving consumer goods such as snacks, cleaning products, baby care and toiletries

Overview

  • Group revenue rose 4.4% to £1.405 billion in Q1 FY26 as UK sales grew 4.7% to £1.1 billion and French sales increased 7.6% to £136 million but Heron Foods sales dipped 0.4%.
  • UK like-for-like sales climbed 1.3% buoyed by strong outdoor merchandise performance driven by drier weather and the timing of Easter.
  • The retailer opened 22 new stores in Q1, brought its Ellesmere Port import centre online and plans to relocate its Middlewich distribution centre before its lease expires in August 2026.
  • Average selling price deflation, wage inflation and higher logistics costs squeezed gross margins, with management expecting margin improvement from Q2 as new ranges take effect.
  • CEO Tjeerd Jegen is intensifying commercial execution ahead of the Golden Quarter to counter persistent margin headwinds following a more than 50% share price slump since December.