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B&M European Value Retail PLC on Wednesday reported modest sales growth in the first quarter of its financial year with flat UK revenue offset by increases in France and at Heron Foods. The Jersey-based variety goods chain in the UK and France said group sales rose 2.0% to £1.43 billion in the 13 weeks to June 27 from the year before, or 1.7% at constant exchange rates. UK sales edged up 0.3%, but declined 2.3% on a like-for-like basis which was worse than the 1.3% drop market consensus cited by JPMorgan forecast. This reflected a slower start to the garden and outdoor season following a strong comparative last year, the firm said. General merchandise categories returned to growth in May and June, and garden and outdoor inventories ended the season at normal stock levels, the firm added. UK fast moving consumer goods trading margin remained below prior year levels in the quarter as expected as ‘we continued to invest in price in a competitive FMCG marketplace.’ UK general merchandise trading margin was higher than last year and B&M expects a continuation in this improvement in the financial year ahead. In France, sales grew 15%, or 12% at constant currency, driven by an acceleration in LFL sales to 5.3% versus 1.7% in the prior quarter, and new store openings. Heron Foods grew revenue by 2.8% with LFL sales up 2.6%. Chief Executive Tjeerd Jegen said the first quarter is ‘our seasonally most variable for sales,’ and against this backdrop, the LFL sales decline at B&M UK ‘was expected’. Shares in B&M European Value Retail fell 4.1% to 195.60 pence each in London on Wednesday. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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