Profit Slide, Turnaround Ahead

B&M Reports Significant Profit Decline While Turnaround Plan Shows Early Progress

B&M European Value Retail reported a sharp profit decline in the 52 weeks to late March 2026, citing a challenging market and execution issues, with pre-tax profit falling to about £227m and adjusted pre-tax profit down to around £284m. Revenue edged up to roughly £5.7–£5.8bn, but B&M UK’s like-for-like sales were broadly flat around -0.1%, even as France delivered stronger performance (including double-digit growth). The retailer said its Back to B&M Basics turnaround plan, launched in October, is starting to show progress through sharper pricing, improved stock availability, revamped promotions, cleared discontinued lines, and moves to reduce SKU counts. Cash generation remained strong, enabling a reduction in net debt to about £656m and bringing leverage back within the company’s target range. Looking ahead, B&M characterized the next year as one of investment—balancing new store openings with store-format innovation and cost mitigation, including offsetting rising energy costs. The company also noted a redomicile to Jersey as part of its ongoing corporate changes.

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