B&M to open 45 new UK stores despite sales drop
It also revealed that it is making progress on finding a replacement for departing chief executive Alex Russo and expects to make an announcement in the coming weeks
B&M has revealed that it is aiming to open 45 new stores in the UK in 2025 despite the fact it saw its UK like-for-like sales drop 3.1% to £4.5bn in the year ended 29 March 2025.
Alongside this, the discount retailer stated that its UK like-for-like sales fell 2.1% in the final 12 weeks of the period.
Despite this drop, overall the group saw its revenues improve 3.7% to £5.6bn as a result of new store openings and a strong performance in France.
The retailer expects its group adjusted EBITDA to be above the midpoint of its £605m to £625m guidance range.
The company stated that its garden, toys, paint and stationery categories underpinned performance for its UK business, while its FMCG offer delivered a negative like-for-like despite being positive in total sales value and volume growth.
B&M opened 45 new stores in FY25 which it said were performing “in line with our expectations and are generating strong returns”. It expects to open the same number in the forthcoming year.
It also revealed that it is making progress on finding a replacement for departing chief executive Alex Russo and expects to make an announcement in the coming weeks.
Last month,reports suggested that former Morrisons boss David Potts was among the leading candidates for the role. Potts started at Tesco nearly four decades ago, rising from the deli counter to managing the company’s Asian operations.
He became Morrisons’ chief executive in 2015 serving until 2023 and stepping down after the supermarket was acquired by US private equity firm Clayton Dubilier and Rice.
It is believed that Potts is eager to return to retailing, he recently attempted to take over The Range but his offer was rejected.
