Last checked at 28 Jul 2014 07:00
28th July, 2014
B&M European Value Retail SA
Interim Management Statement
Strong Q1 Trading in Line with Expectations
B&M European Value Retail SA ("the Group"), the UK's leading multi-price value retailer, today announces its interim management statement relating to the period from 30 March 2014 to 27 July 2014,with trading numbers up until 28th June 2014.
Current Trading Update
Group sales for the 13 weeks ending 28 June 2014 increased by 31.9% (2013: 34.1%) to
£367.0m (2013: £278.2m). [1]
The UK business sales for the 13 week period increased by 22.6% to £341.2m (2013: £278.2m) with like-for-like sales growth of 6.0% on top of a strong quarter last year (2013: +7.3%).
The UK business has continued to grow sales well reflecting a strong like-for-like performance and the new store opening programme, with a net seven new stores opened in the quarter as planned.
Financial Position and Outlook
The Group's financial position remains sound. All guidance for the full year remains unchanged from the time of the IPO.
Simon Arora, Chief Executive, said,
"The Group's first quarter trading performance has been a strong one, demonstrating the continued popularity of our unique offer. Our like-for-like performance was driven by our strong product offering, growth in the average customer transaction value and the late Easter.
Our hard working teams are focused on delivering our important Autumn Winter season and our on-going new store programme. The management team of JA Woll has made good progress on accessing the Group's Far East supply base for its 2015 ranges".
[1] Sales from JA Woll, which was acquired on 30 April 2014 are included in the current period figures but not for the prior year.
Conference Call
A conference call to discuss the IMS will be held on Monday 28 July at 09:30 am (UK).
Dial-in details are:
UK & International: +44 (0) 20 3364 5719
US: +1 212 444 0096
Passcode 660751
Enquiries
For further information please contact +44 (0) 151 728 5400
Simon Arora, Chief Executive
Paul McDonald, Chief Financial Officer
Investor.relations@bandmretail.com
For Media please contact +44 (0) 151 728 5400
Charlie Du Pre
Notes to editors
B&M European Value Retail S.A. is a variety retailer with 380 stores in the UK operating under the B&M Bargain and B&M Homestore brands and 49 stores in Germany operating under the JA Woll and Hafu brands.
The B&M group was founded in 1978 and listed on the London Stock Exchange in June 2014. For more information please visit www.bmstores.co.uk