B & M
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| Type | Private limited (Ltd.) |
|---|---|
| Industry | Retail |
| Founded | Blackpool, England, United Kingdom (1976) |
| Headquarters | Liverpool, England, United Kingdom |
| Number of locations | 149 (May 2010)[1] |
| Key people | · Simon Arora (Managing Director) · Steve Wakeman (Finance Director) |
| Products | Grocery, variety |
| Revenue |  £426.6 million (2009)[citation needed] |
| Operating income | £24.5 million (2009)[citation needed] |
| Owner(s) | · Bobby Arora · Simon Arora |
| Employees | Approximately 5,000[2] |
| Website | bmstores.co.uk |
B&M Retail Ltd (also known as B&M Bargains and the larger B&M Homestore) is a retail chain of discount stores operating in the United Kingdom since 1976.
Based in Liverpool, in North West England, the company has moved from being a regional retailer into an operator with a more-national base.[3]
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[edit] History
![[icon]](/wiki/File:Wiki_letter_w_cropped.svg){kind=small} |
This section requires expansion with: prose on history from 1976 to 2005. |
It was purchased by brothers Simon and Bobby Arora from private-equity firm Phildrew Ventures in 2005, at which time the company had twenty-one stores and an annual revenue of £65 million.[4]Younger brother Robin Arora joined the business in the summer of 2008.
[edit] Growth
It saw significant growth in 2006 by acquiring the Glyn Webb chain of do-it-yourself (DIY) stores and converting them into its B&M Homestore format.[5] The company also acquired[when?] a number of former Kwik Save,[6] Woolworths and Au-Naturalle stores within its operational regions. It 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.[3]. It has also bought some Focus DIY stores in May 2011, to be converted to the B&M Homestore format.
[edit] Customer base
More than half of the company's shoppers are over age thirty.[3] As of June 2009, it was attracting, on average, 1.25 million customers per week into its stores.[2]
[edit] Financial performance
The company saw a sharp increase in sales and profit during the late-2000s economic downturn.[3][clarification needed]
| Week ending | Revenue (£ million) |
Gross profit (£ million) |
Pre-tax profit (£ million) |
Retained profit (£ million) |
|---|---|---|---|---|
| 31 December 2009[1] | 426.6 | 33.8 | 24.5[7] | |
| 31 December 2008[8] | 255.9 | 14.2 | ||
| 31 December 2007[9] | 147.0 | 9.9 | ||
| 31 December 2006[6] | 78.0 | |||
| 2005[6] | 65.0 | |||
| 28 February 2004[10] | 69.7 | -0.3 | ||
| 2003[10] | 64.6 | 1.2 |
[edit] Press comment — The Sunday Times Top Track
It was listed[when?] by The Sunday Times Fast Track as one of the 100-fastest-growing private companies in the UK. This follows a ranking, earlier that year, in the paper's Top Track, a listing of the largest 100 mid-sized private companies in the UK.[11]
[edit] References
- ^ a b Staff writer (29 May 2010). "B&M Confirms Meteoric Rise as Pre-Tax Profits Hit All-Time High". The Grocer. http://www.thegrocer.co.uk/articles.aspx?page=independentarticle&ID=209801. Retrieved 29 December 2010.
- ^ a b Staff writer (17 June 2009). "B&M Takeover Chorley Woolworths Store". The Visitor. http://www.thevisitor.co.uk/chorley-news/BM-takeover-Chorley-Woolworths-store.5374068.jp. Retrieved 29 December 2010.
- ^ a b c d (subscription required) Ryan, John (19 June 2009). "B&M Bargains Sets Sights on 400 Stores as Profits Soar in Downturn". Retail Week. http://www.retail-week.com/city/annual-results/bm-bargains-sets-sights-on-400-stores-as-profits-soar-in-downturn/5003669.article. Retrieved 29 December 2010.
- ^ a b Hunt, Michael (4 November 2009). "Liverpool Vision To Provide B&M Retail with £1.75m Grant". Place North West. http://www.placenorthwest.co.uk/news/archive/4679-liverpool-vision-to-provide-b-and-m-retail-with-1.75m-grant.html. Retrieved 29 December 2010.
- ^ Barry, Chris (5 September 2006). "GlynWebb Changes Hands Again". Manchester Evening News. http://www.manchestereveningnews.co.uk/news/business/s/222/222463_glynwebb_changes_hands_again.html. Retrieved 29 December 2010.
- ^ a b c Staff writer (15 October 2007). "B&M Bargains Buys Ex-Kwik Save Stores". Talking Retail. http://www.talkingretail.com/news/industry-news/7004-b-m-bargains-buys-ex-kwik-save-stores.html. Retrieved 29 December 2010.
- ^ Bennett, Julia (21 May 2010). "B&M Staff Anger over 'Obscene' Profit". Blackpool Gazette. http://www.blackpoolgazette.co.uk/blackpoolnews/BM-staff-anger-over-34obscene34.6310350.jp. Retrieved 29 December 2010.
- ^ Staff writer (20 June 2009). "Profits Up 95% at Expanding B&M Bargains". The Grocer. http://www.thegrocer.co.uk/articles.aspx?page=articles&ID=200827. Retrieved 29 December 2010.
- ^ Staff writer (28 March 2008). "Shop Profile — B&M Retail". The Grocer. http://www.thegrocer.co.uk/articles.aspx?page=articles&ID=125544. Retrieved 29 December 2010.
- ^ a b (subscription required) Staff writer (27 August 2004). "B&M's 'Brutal' Year Stems Growth". Retail Week. http://www.retail-week.com/bms-brutal-year-stems-growth/1712626.article. Retrieved 29 December 2010.
- ^ Staff writer (undated). "2010 Top Track 250 League Table Supplement". fasttrack.co.uk. Retrieved 29 December 2010.
[edit] External links
- bmstores.co.uk, company's official website
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