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B&M pledges turnaround as it warns over profits after sliding UK sales
B&M forecasts a 28% drop in half-year earnings to £198 million due to rising wage and packaging costs while launching a 12-18 month turnaround plan to stabilize sales.
- B&M has announced price cuts on hundreds of items as part of a plan to combat declining profits and stagnant growth.
- CEO Tjeerd Jegen stated that sustainable growth is an "absolute priority" after a comprehensive review of operations.
- B&M's half-year underlying earnings are projected to fall by 28% to £198 million, with full-year earnings expected to decrease by up to 18%.
- B&M plans to reduce over 35% of key value product prices by an average of 1.8%, focusing on promotions like "manager's specials" to improve customer experience.
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Get Surrey
Get SurreyBudget retailer B&M which has 700 stores issues sales slide warning
Turnaround measures include cutting prices of some of its key value items
·Colwyn Bay, United Kingdom
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Coverage Details
Total News Sources27
Leaning Left3Leaning Right0Center13Last UpdatedBias Distribution81% Center
Bias Distribution
- 81% of the sources are Center
81% Center
L 19%
C 81%
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