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B&M Jumps as UK Sales Return to Growth

B&M shares surged in early trading after the value retailer reported UK like-for-like sales growth in its second quarter and issued full-year guidance, though the first half as a whole stayed weak.

B&M (LON: BME) shares jumped after the value retailer’s interim results showed UK like-for-like sales growing again in its second quarter. The FTSE 250 company reported 3.2% growth, up from a 2.3% fall in the first quarter.

The shares were around 325.6p in early trading, up 16.7% from yesterday’s close of 279p, after opening at 306.8p and touching 334.4p, according to delayed quotes. Yesterday’s close was already 77% above the 157.4p of the week of the 11th of May.

BME.LSE
Line chart of B&M's weekly closing share price from May to November 2026, rising sharply to the latest point
B&M weekly closing share price, May to 12 November 2026; the last point is a delayed intraday quote.

The results covered the 26 weeks to 26 September. Group revenue rose 3.6% to £2,848m from £2,749m, and adjusted pre-tax profit climbed 16.6% to £121m from £103m. Like-for-like sales count only stores open for at least 14 months.

Chief executive Tjeerd Jegen said the turnaround plan was showing results.

Back to B&M Basics is starting to deliver.

Tjeerd Jegen, B&M chief executive

The plan covers pricing, availability, promotions and cutting the number of product lines. UK trading gross margin improved to 36.3% from 35.4%, and net debt fell to £613m from £859m. The swing in second-quarter sales is the most likely driver of the share price jump.

MeasureH1 FY27H1 FY26
Adjusted diluted EPS8.9p7.2p
Free cash flow£132m£51m
Leverage1.3x1.6x

The caveats are real. UK like-for-like sales rose only 0.4% across the half, with the first quarter hit by poor weather. The second quarter was led by General Merchandise (non-food such as home and garden), helped by an extended garden season, while fast-moving consumer goods (everyday groceries) ended the quarter flat.

Guidance for the full year is adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) of £450m to £500m and adjusted pre-tax profit of £280m to £330m. The low ends sit below last year’s £459m and £284m.

The test is the Golden Quarter, the Christmas trading period. B&M said early trading was positive across its businesses, but gave no figure. The interim dividend of 3.6p goes ex-dividend next Thursday.

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