A combination of an uncertain economy and good weather led to a brisk trade in groceries and garden furniture at discount chain B&M European Value Retail (BME) and contributed to double-digit first-quarter revenue growth.
IC TIP:
Buy
at
343p
B&M’s UK division saw impressive like-for-like growth of 7.3 per cent in the three months to 24 June. For chief executive Simon Arora, the strong showing was driven by more shoppers "seeking out value" at B&M. The group clearly expects this momentum to continue, with plans for up to 50 new additions to its 543 UK stores this financial year and a significant pipeline for German stores too.