28 Jul 2014 07:00
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28th July, 2014
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B&M European Value Retail SA
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Interim Management Statement
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Strong Q1 Trading in Line with Expectations
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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.
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Current Trading Update
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Group sales for the 13 weeks ending 28 June 2014 increased by 31.9% (2013: 34.1%) to
£367.0m (2013: £278.2m). [1]
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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%).
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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.
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Financial Position and Outlook
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The Group's financial position remains sound. All guidance for the full year remains unchanged from the time of the IPO.
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Simon Arora, Chief Executive, said,
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"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.
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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".
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[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.
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Conference Call
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A conference call to discuss the IMS will be held on Monday 28 July at 09:30 am (UK).
Dial-in details are:
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UK & International: +44 (0) 20 3364 5719
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US: +1 212 444 0096
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Passcode 660751
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Enquiries
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For further information please contact +44 (0) 151 728 5400
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Simon Arora, Chief Executive
Paul McDonald, Chief Financial Officer
Investor.relations@bandmretail.com
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For Media please contact +44 (0) 151 728 5400
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Charlie Du Pre
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Notes to editors
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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.
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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
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