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UK discount retailer B&M narrows annual core profit forecast

B&M European Value Retail, a UK discount retailer, has narrowed its annual core profit forecast for the fiscal year ending March 2024, expecting an adjusted EBITDA between 620 million and 630 million pounds, down from a previous range of 610 million to 640 million pounds. This adjustment comes despite a 5.0% increase in like-for-like sales in its UK operations over the 14 weeks to December 30, driven by robust demand for general merchandise and groceries. However, the company noted that the current year's profit would be lower than the previous year due to the absence of a 53rd week in the fiscal calendar and the lack of repeat benefits from last year's energy cost support. B&M also mentioned that its French operations continue to face challenges, although there are signs of improvement.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/retail-consumer/uk-discount-retailer-bm-narrows-annual-core-profit-forecast-2025-01-09/ ]