Overview
- B&M lowered full-year adjusted EBITDA guidance to £440 million–£475 million, the third reduction since October, with shares down as much as 5% intraday before trimming losses.
- UK like-for-like sales fell 0.6% in the quarter to December 27, while December rose 3% and growth continued into January, according to the company.
- The retailer is deepening price cuts and clearances to simplify ranges, targeting 25%–35% SKU reductions across roughly 200 subcategories by mid-summer and expanding availability trials from 11 to 153 stores with top lines rolling out across the UK estate.
- Heron Foods posted a 0.1% sales decline for the quarter and a significant profit shortfall versus expectations, prompting a review of its customer proposition amid structural margin pressures.
- B&M said its investigation into a £7 million overseas freight accounting error is complete and that recommendations on IT and finance processes are being implemented.