B&M European Value Retail (BME) Q1 2027 TU earnings summary

Executive summary

• Group revenue grew 2.0% year-over-year in Q1 FY27, led by strong performance in France and positive sales from Heron Foods.

• B & M UK saw a like-for-like sales decline of 2.3% due to a slower garden season, but general merchandise returned to growth in May and June.

• Inventory discipline and effective clearance resulted in normal seasonal stock levels exiting the garden season.

Financial highlights

• Group revenue reached £1,433m, up 2.0% year-over-year.

• B & M UK revenue was £1,135m (+0.3% YoY), B & M France £156m (+14.6% YoY), Heron Foods £142m (+2.8% YoY).

• B & M France like-for-like sales rose 5.3%; Heron Foods like-for-like sales increased 2.6%.

Outlook and guidance

• General merchandise trading margin in the UK continued its upward trend, expected to improve further with new collections.

• Ongoing focus on cost mitigation and SKU rationalisation to support profitability recovery.