B & M
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| Type | LTD |
|---|---|
| Industry | Retail |
| Founded | Blackpool, England (1976) |
| Founder(s) | [[]] |
| Headquarters | Blackpool, England |
| Number of locations | 140 (November 2009) |
| Key people | Simon Arora (Managing Director), Steve Wakeman (Finance Director) |
| Products | Grocery, General |
| Revenue | ▲£383 million (2008) |
| Operating income | ▲£34.7 million (2008) |
| Owner(s) | Simon Arora and Bobby Arora |
| Employees | ~5000[1] |
| Website | www.bmstores.co.uk |
B&M Retail Ltd (also known as B&M Bargains) is a chain of discount stores operating in the United Kingdom since 1976. Based in Blackpool, in the North West of England, B&M have moved from being a regional retailer into an operator with a more national base,[2] selling everything from baked beans and shampoo through to Barbie dolls and cushions. B&M's outlets generally stock a mix of grocery and non-grocery product, including electrical goods and garden furniture.[3]
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[edit] History
B&M Bargains was bought by brothers Simon and Bobby Arora from private equity firm Phildrew Ventures in 2005, at which time the company had 21 stores and an annual turnover of £65m.[4]
[edit] Growth
The retailer saw significant growth in 2006 by acquiring the Glyn Webb chain of "Do it yourself" (DIY) stores and converting them into their B&M Homestore format.[5] The business also acquired a number of former Kwik Save,[6] Woolworths and Au-Naturalle stores within its operational regions. The chain has over 135 stores[4] and is looking for further gradual expansion, such as committing to increase its store numbers to 400 across the UK.[2]
[edit] Customer base
More than half of B&M's shoppers are over 30 years of age.[2] As of June 2009, the retailer was attracting on average 1.25m customers per week into its stores.[1]
[edit] Financial performance
The retailer has seen a sharp increase in sales and profit during the economic downturn of the late-2000s.[2]
| Week ending | Turnover (£m) | Gross profit (£m) | Pre-Tax profit (£m) | Retained profit (£m) |
|---|---|---|---|---|
| 31 December 2008[7] | 255.9 | 14.2 | ||
| 31 December 2007[3] | 147 | 9.9 | ||
| 31 December 2006[6] | 78 | |||
| 2005[6] | 65 | |||
| 28 February 2004[8] | 69.7 | -0.25 | ||
| 2003[8] | 64.6 | 1.2 |
[edit] Press Comment
[edit] Sunday Times Top Track
B&M Retail was listed by The Sunday Times Fast Track as one of the 100 hundred fastest growing private companies in the UK. This follows ranking in the paper's Top Track earlier that year, a listing of one of the largest 100 mid-sized private companies in the UK.[9].
[edit] References
- ^ a b "B&M takeover Chorley Woolworths store". The Visitor. 17 June, 2009. http://www.thevisitor.co.uk/chorley-news/BM-takeover-Chorley-Woolworths-store.5374068.jp. Retrieved 1 December, 2009.
- ^ a b c d "B&M Bargains sets sights on 400 stores as profits soar in downturn". Retail Week. 19 June, 2009. http://www.retail-week.com/city/annual-results/bm-bargains-sets-sights-on-400-stores-as-profits-soar-in-downturn/5003669.article. Retrieved 1 December, 2009.
- ^ a b "Shop Profile = B&M Retail". The Grocer. 28 March, 2008. http://www.thegrocer.co.uk/articles.aspx?page=articles&ID=125544. Retrieved 30 November, 2009.
- ^ a b "Liverpool Vision to provide B&M Retail with £1.75m grant". Place North West. 4 November, 2009. http://www.placenorthwest.co.uk/news/archive/4679-liverpool-vision-to-provide-b-and-m-retail-with-1.75m-grant.html. Retrieved 30 November, 2009.
- ^ "GlynWebb changes hands again". Manchester Evening News. 5 September, 2006. http://www.manchestereveningnews.co.uk/news/business/s/222/222463_glynwebb_changes_hands_again.html. Retrieved 1 December, 2009.
- ^ a b c "B&M Bargains buys ex-Kwik Save stores". Talking Retail. 15 October, 2007. http://www.talkingretail.com/news/industry-news/7004-b-m-bargains-buys-ex-kwik-save-stores.html. Retrieved 3 December, 2009.
- ^ "Profits up 95% at expanding B&M Bargains". The Grocer. 20 June, 2009. http://www.thegrocer.co.uk/articles.aspx?page=articles&ID=200827. Retrieved 1 December, 2009.
- ^ a b "B&M's 'brutal' year stems growth". Retail Week. 27 August, 2004. http://www.retail-week.com/bms-brutal-year-stems-growth/1712626.article. Retrieved 1 December, 2009.
- ^ http://www.fasttrack.co.uk/fasttrack/leagues/top250supplement.html
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