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From Wikipedia, the free encyclopedia

B&M
Société anonyme
Traded asLSEBME
IndustryRetail
Founded14 March 1978; 42 years ago (1978-03-14)
FounderMalcolm Billington
HeadquartersLiverpool, United Kingdom (operational)[1]
Luxembourg (registered)
Number of locations
600 stores
Key people
Peter Bamford
(chairman)
Simon Arora
(Chief executive officer)
ProductsGrocery, variety
RevenueIncrease£3,486.3 million (2019)[2]
Increase£264.4 million (2019)[2]
Increase£202.7 million (2019)[2]
Number of employees
32,000 (2020)[3]
DivisionsBMStores.co.uk
SubsidiariesHeron Foods
WebsiteRetail website Corporate website

B&M (also known as B&M Bargains and the larger B&M Homestore) is a British variety store chain founded in 1978. It employs over 28,000 people.[3] It is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index.

History

B&M, Omagh (2008)
B&M, Omagh (2008)
B&M, Keighley (2010)
B&M, Keighley (2010)

The business was founded by Malcolm Billington as Billington & Mayman and the first store opened in Cleveleys, Lancashire, United Kingdom, in 1978 and was acquired by Simon and Bobby Arora from Phildrew Investments in December 2004.[4]

In September 2006, the business saw significant growth, by acquiring the GlynWebb chain of Do It Yourself (DIY) stores, and converting them into the B&M Homestore format.[5] The company also acquired a number of former Kwik Save,[6][7] Woolworths[8] and Au-Naturale stores.[9]

The business moved into a new office and modern 620,000 sq ft (58,000 m2) distribution centre based in Speke, Liverpool in 2010, and new operations, logistics and finance directors joined the business in 2011.[10] In May 2011, B&M also purchased a number of Focus DIY stores.[11]

In December 2012, Clayton, Dubilier & Rice, one of the world's leading private equity funds, acquired a significant stake in B&M, and Sir Terry Leahy and Vindi Banga joined the Board of Directors.[12]

In March 2014, the business acquired a majority stake in German discount retailer Jawoll, and then opened a new 500,000 sq ft distribution centre in Speke, Liverpool.[10] In June 2014, the business was the subject of an initial public offering.[13] However, upon detailed analysis by the Columbia Business school, it was found the IPO of B&M was overhyped due to an already saturated market in the UK.[14]

In November 2014, the business opened its 400th store (in Stockport)[15] and claimed to serve in excess of three million customers every week.[16]

During July 2017, the company completed the acquisition of the smaller frozen food store chain Heron Foods for £152 million.[17][18]

Operations

Up to 30% of B&M's stock is sourced and purchased directly from China, though the retailer believes it can offset the higher import costs by increased sales volumes. Less than 10% of their products are sold for £1, giving them an advantage over single-priced competitors such as Poundland.[19]

Since September 2012, some stores have also been selling National Lottery goods.[20]

Corporate affairs

Store expansion

Over the period 2016 to 2018, the company opened another 100 stores as it reached 600 stores in November 2018.[21]

In September 2020, the company announced that it planned to open about 45 stores, offering everything from tinned and frozen meals to wallpaper and bedding plants, which has become a lockdown phenomenon.[22]

Financial performance

The financial performance has been as follows:

Year ending Revenue
(£ million)
Profit
Operating
(£ million)
Pre-tax
(£ million)
Retained
(£ million)
31 March 2019[23] 3,486.3 264.4 249.4 202.7
31 March 2018[24] 3,029.8 239.8 229.3 185.8
25 March 2017[25] 2,430.7 204.5 182.9 144.0
26 March 2016[26] 2,035.3 174.5 154.5 125.8
28 March 2015[27] 1,646.8 132.9 61.7 39.9
29 March 2014 (65-week period)[28] 1,509.1 123.5 135.4
31 December 2012[29] 935.2 88.1 88.3 66.3
31 December 2011[29] 712.6 52.0 51.7 38.0
31 December 2010[30] 538.3 35.4 35.2 25.3
31 December 2009[30] 426.6 34.0 33.8 24.5[31]

References

  1. ^ "Arora brothers clean up thanks to B&M float". The Times. Retrieved 13 June 2015.
  2. ^ a b c "Annual Report 2019" (PDF). B&M. Retrieved 29 February 2020.
  3. ^ a b Sengun, Tunc. "B&M's website Careers page". Retrieved 23 September 2020.
  4. ^ "Sunday Times Rich List 2016: Sale bargain brother billionaires rank fourth in North West". Messenger. Retrieved 16 November 2016.
  5. ^ Barry, Chris (5 September 2006). "GlynWebb Changes Hands Again". Manchester Evening News. Retrieved 29 December 2010.
  6. ^ Sengun, Tunc (15 October 2007). "B&M acquires Kwik-save stores". talkingretail.com. Retrieved 22 June 2014.
  7. ^ Staff writer (15 October 2007). "B&M Bargains Buys Ex-Kwik Save Stores". Talking Retail. Archived from the original on 21 August 2010. Retrieved 29 December 2010.
  8. ^ Sengun, Tunc. "B&M acquires Woolworth stores". retail-week.com. Retrieved 22 June 2014.
  9. ^ Sengun, Tunc. "B&M Acquires Au Naturale stores". retatail-week.com. Retrieved 22 June 2014.
  10. ^ a b "Liverpool discount retailer B&M Bargains to create 200 jobs with new 500,000sq ft warehouse in Speke". Liverpool Echo. 10 October 2012. Retrieved 16 November 2016.
  11. ^ Sengun, Tunc. "B&M acquires Focus stores". retail-week.com. Retrieved 22 June 2014.
  12. ^ Sengun, Tunc. "Clayton Dubilier & Rice To Acquire Significant Stake in Leading UK Variety Retailer, B&M Retail". Retrieved 20 June 2014.
  13. ^ Armstrong, Ashley (12 June 2014). "B&M Bargains boosts London's listing market". The Telegraph. Retrieved 12 January 2017.
  14. ^ Wang, Sisy (10 October 2014). Graham and Doddsville (PDF) (Fall of 2014 ed.). Washington: Columbia Business School (GSB). pp. 22–23. Retrieved 24 October 2016.
  15. ^ Ruddick, Graham (18 November 2014). "Why B&M could be the next big thing in British retailing". The Telegraph. Retrieved 10 September 2016.
  16. ^ "About B&M Stores". B&M Stores. Retrieved 25 August 2017.
  17. ^ Armstrong, Ashley (2 August 2017). "B&M Bargains moves into convenience retailing with £152m swoop on Heron Foods". The Telegraph. ISSN 0307-1235. Retrieved 5 January 2018.
  18. ^ "Family-run Heron Foods taken over by B&M in £152m deal". BBC News. BBC. 2 August 2017. Retrieved 3 August 2017.
  19. ^ Armstrong, Ashley (15 November 2016). "B&M bullish on store roll-outs despite sterling slump". The Telegraph. Retrieved 12 January 2017.
  20. ^ Sengun, Tunc. "B&M sells National Lottery goods". halfdiscount.co.uk. Archived from the original on 7 July 2014. Retrieved 22 June 2014.
  21. ^ "B&M eyeing Sainsbury's and Asda stores". Evening Standard. 13 November 2018. Retrieved 14 January 2019.
  22. ^ "B&M steps up expansion after lockdown sales boom". The Guardian. 29 September 2020. Retrieved 10 October 2020.
  23. ^ "Annual Report 2019". B&M. Retrieved 29 February 2020.
  24. ^ "Annual Report 2018". B&M. Retrieved 15 March 2019.
  25. ^ "B&M European Value Retail S.A. – Annual Report and Accounts 2017". bandmretail-ar2017.html.investis.com. Retrieved 1 March 2018.
  26. ^ "Preliminary Results 2016" (PDF). B&M. Retrieved 16 April 2017.
  27. ^ "Annual Report 2015" (PDF). B&M. Retrieved 16 April 2017.
  28. ^ "B&M Retail – Companies House". Companies House. 26 March 2016. Retrieved 12 January 2017.
  29. ^ a b Sengun, Tunc. "B&M's Financial performance 31/12/2012" (PDF). bandmretail.com. Retrieved 23 June 2014.
  30. ^ a b Staff writer (29 May 2010). "B&M Confirms Meteoric Rise as Pre-Tax Profits Hit All-Time High". The Grocer. Retrieved 29 December 2010.
  31. ^ Bennett, Julia (21 May 2010). "B&M Staff Anger over 'Obscene' Profit". Blackpool Gazette. Retrieved 29 December 2010.

External links

This page was last edited on 22 November 2020, at 23:45
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