British discount retailer B&M said comparable sales rose 6.4% in its key Christmas quarter, showing that shoppers sought out value options as they grappled with the cost-of-living crisis.
The B&M logo is pictured on signage outside a store in London, Britain, November 19, 2021. Picture taken November 19, 2021. REUTERS/May Jamessaid comparable sales rose 6.4% in its key Christmas quarter, showing that shoppers sought out value options as they grappled with the cost-of-living crisis.
B&M, which sells everything from toys to frozen food and garden furniture from 1,100 stores in Britain and France, said strong demand for non-grocery products helped lift margins as it posted a 12% jump in quarterly revenue to 1.56 billion pounds . In recessionary times, discount operators tend to do relatively better than mainstream peers as they have lower cost bases and shoppers become more price sensitive.
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