Value retailer B&M has reported a growth in full year sales although saw profit decline.
According to its preliminary results for the 52 weeks to 28 March 2026, total group sales rose 3.6% to £5.7bn from £5.5bn in 2025.
Group adjusted EBITDA resulted at £459m, down 25.9% from £620m, while pre-tax profit stood at £227m, down 47.3% from £431m year-on-year.
B&M UK delivered total sales growth of 2.9% to £4.6bn from £4.4bn, with like-for-like sales broadly flat (-0.1%), as positive value and volume LFL performance in General Merchandise was offset by a narrowing decline in FMCG LFL sales. B&M UK LFL sales growth in Q4 of 0.1% (H2: -0.4%), reflecting continued FMCG improvement.
As for current trading, the retailer said: “In B&M UK, we experienced a slower start to our garden season compared with last year, when unusually early warm weather drove double-digit LFL sales in April 2025. Better weather in late May this year has since driven a recovery in sales of seasonal categories.”
During the year, 64 gross new stores opened across the Group (33 net), with 41 in B&M UK (22 net), 12 in B&M France and one net closure in Heron (11 openings, 12 closures).
Tjeerd Jegen, Chief Executive Officer, said: “FY26 was a difficult year that saw profits fall due to a challenging market and execution issues. We launched our Back to B&M Basics plan in October to restore like-for-like sales growth at B&M UK, which was flat overall versus FY25 while showing sequential improvement.
“The past six months has seen us sharpen our pricing, improve on-shelf availability in best-selling brands and revamp our in-store promotions. We cleared discontinued lines well in Q4 and are now embarking on SKU count reductions across all our FMCG categories. Cash conversion remained strong in FY26 and net debt has fallen, returning Group leverage back within our 1.0 to 1.5x target range, and I am pleased to report adjusted EBITDA (pre-IFRS 16) at the midpoint of our current guidance.
“FY27 remains a year of investment as we work hard to deliver growth under Back to B&M Basics and balance new store growth with investing in our store formats under Phase 2 of our strategic plan. We are confident we can offset rising energy costs in the year ahead through cost mitigation, the benefits of which will flow through to our bottom line once we have returned B&M UK like-for-like sales to growth. In the medium term, we continue to see no reason why B&M UK cannot return to double-digit EBITDA margins.”
