Value retailer B&M has reported a growth in half year sales although weak operational execution has hampered progress.

According to its latest trading update for the first half 26-week period to 27 September 2025, total sales grew +4.0% to £2,749m, primarily driven by B&M UK total value and volume sales growth, good trading momentum in B&M France and the addition of 31 gross and 15 net new stores across its three businesses – including nine in the UK.

B&M UK LFL sales grew by +0.1% in H1, with positive like-for-like (LFL) volume and value growth in General Merchandise offset by a decline in FMCG LFL sales.

“The timing of Easter and the early onset of good weather pulled forward demand for our General Merchandise outdoor ranges in early H1, driving double-digit LFL sales in April,” the company said. “Sales were weak in May as this trend reversed, following which we saw a progressive moderation in LFL sales declines in June and each period during Q2, helped by a return towards higher average value products in General Merchandise and some average selling price (ASP) inflation in FMCG.

“Despite this improving trajectory, B&M UK LFL sales declined by -1.1% in Q2, which was weaker than our expectations.”

Taking recent trading into account, and its expectation of an improving LFL trajectory from Q2 levels, Group adjusted EBITDA is likely to be in the range of £510m-£560m for FY26.

Tjeerd Jegen, Chief Executive Officer, said: “Since becoming CEO in June, I have led the business through a comprehensive review of our customer proposition and operations. We have concluded that while B&M’s value proposition remains strong, our operational execution has been weak. This has impacted our first-half trading performance, and this is reflected in the full-year outlook.

“Our response is a decisive plan, ‘Back to B&M Basics’, focused on returning the UK business to sustainable like-for-like growth. This is our absolute priority. We have already sharpened our price position, and we are moving with pace to refocus our ranges, improve on-shelf availability and bring back excitement to our stores. We have more work to do, but we are confident these changes will restore consistent like-for-like sales growth over time.”