B&M smashed sales record during fruitful Christmas period

Discount retailer B&M European Value Retail S.A. announced its quarterly results on Wednesday, January 4, 2017 as it revealed record Christmas trading steered to a hike in third-quarter sales, boosting the company’s chances of reaching full-year targets.

The company said in an announcement that group revenue between Sept. 25 and Dec. 24 surged 20.5% at constant currency, comprising a 7.2% surge in U.K. like-for-like revenue.

Meanwhile the retailer also announced that it had a strong operational and fiscal performance through the peak trading period and is confident of meeting market predictions for adjusted earnings before interest, taxes, depreciation and amortization in the fiscal year ending in March.

Furthermore on an actual currency basis, total sales revenue surged by 21.8% to 789.1 million pounds or $968.1 million from GBP647.8 million year over year.

Moreover the U.K. sales revenue for the 13-week period surged 20.7% to GBP741.4 million from GBP614.5 million year over year, with like-for-like sales of 7.2% in the quarter, reflecting store openings and strong like-for-like sales versus the second quarter.

In the meantime the group’s German arm, Jawoll, claimed sales of GBP47.7 million between Oct. 1 and Dec. 31 in contrast with GBP33.3 million in the third quarter of year before.