B & M

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For other uses, see B&M.
B&M Retail Ltd
Public limited company
Industry Retail
Founded Blackpool, England, United Kingdom formed 14 March 1978[1]
Founder Malcolm Billington
Headquarters Liverpool, United Kingdom (operational headquarters)[2]
Luxembourg (registered office)[3]
Number of locations
400[4]
Key people
Sir Terry Leahy[1] (Chairman)
Simon Arora (CEO)[1]
Paul McDonald[1](CFO)
Products Grocery, variety
Revenue Increase£935.2 million (2012)[5]
Increase£66.3 million (2012)[5]
Owner B&M European Value Retail S.A. listed on the London Stock Exchange
Number of employees
19,000 (approximately)[6]
Website retail website corporate website

B&M Retail Ltd. (also known as B&M Bargains and the larger B&M Homestore) was formed in 1978 and is now one of the leading variety retailers in the United Kingdom, employing over 19,000[6] staff.

From its first store in Blackpool, Lancashire. B&M has grown to 400[4] high street and out of town stores across the United Kingdom (April 2015), as well as 49 stores under the JAWOLL and HAFU brands in Germany.

History[edit]

B&M, Omagh (2008)
B&M, Keighley (2010)
B&M, Strabane (2009)
B&M, Morley (2010)

The business was founded in 1978, by Malcolm Billington and the first store opened in Blackpool, United Kingdom.[1] In December 2004, B&M was acquired by Simon and Bobby Arora, from Phildrew Investments, at which time the company traded from 21 stores.[1]

In 2010, the business moved into a new office and modern 620,000sq ft distribution centre based in Speke, Liverpool.[1]

In 2011, new operations, Logistics and Finance Directors joined the business.[1]

In 2012, Clayton, Dubilier & Rice , one of the world’s leading private equity funds acquired a significant Stake in B&M and both Sir Terry Leahy and Vindi Banga joined the Board of Directors.[1][7]

In 2014, B&M lists[8] on the London Stock Exchange as part of the next stage of its development. The listing is designed to support the company’s ambitious growth in the United Kingdom, and continental Europe. The listing follows B&M’s acquisition of a majority stake in German discount retailer JA Woll and the opening of a new 500,000 sq ft distribution centre in Speke, Liverpool, United Kingdom.[1]

In October 2014, B&M opened its 400th store.[4]

Growth[edit]

It saw significant growth between 2006–2012, by acquiring the GlynWebb chain of Do It Yourself (DIY) stores, and converting them into the B&M Homestore format.[9] The company also acquired a number of former Kwik Save,[10][11] Woolworths[12] and Au-Naturale[13] stores. In May 2011, B&M also purchased a number of Focus DIY stores[14] which were also converted to the B&M Homestore format.

The business continues to expand; looking to significantly increase the number of stores across the United Kingdom, and particularly in the south of England.

Since September 2012, some stores also sell National Lottery goods.[15]

Financial performance[edit]

The company saw a sharp increase in sales and profit during the late-2000s economic downturn. [clarification needed]

Year ending Revenue
(£ million)
Gross profit
(£ million)
Pre-tax profit
(£ million)
Retained profit
(£ million)
31 December 2012[5] 935.2 88.3 66.3
31 December 2011[5] 712.6 52 38.0
31 December 2010 538.3 35.2 25.3
31 December 2009[16] 426.6 33.8 24.5[17]
31 December 2008[18] 255.9 14.2
31 December 2007[19] 147.0 9.9
31 December 2006[11] 78.0
2005[11] 65.0
28 February 2004[20] 69.7 -0.3
2003[20] 64.6 1.2

Press and awards[edit]

In 2009, B&M won the KPMG Employee Growth Award amongst Fast Track Companies.[21]

Before being listed on the London Stock Exchange, B&M was featured repeatedly in The Sunday Times Fast Track as one of the 100 fastest growing private companies in the United Kingdom.[22]

References[edit]

  1. ^ a b c d e f g h i j Sengun, Tunc. "B&M's corporate website History page". Retrieved 20 June 2014. 
  2. ^ http://www.thetimes.co.uk/tto/business/industries/retailing/article4116824.ece
  3. ^ Sengun, Tunc. "B&M's corporate website contact us page". Retrieved 20 June 2014. 
  4. ^ a b c Sengun, Tunc. "B&M's website About page". Retrieved 20 June 2014. 
  5. ^ a b c d Sengun, Tunc. "B&M's Financial performance 31/12/2012" (PDF). bandmretail.com. Retrieved 23 June 2014. 
  6. ^ a b Sengun, Tunc. "B&M's website Careers page". Retrieved 30 October 2014. 
  7. ^ Sengun, Tunc. "Clayton Dubilier & Rice To Acquire Significant Stake in Leading UK Variety Retailer, B&M Retail". http://www.cdr-inc.com. Retrieved 20 June 2014. 
  8. ^ Sengun, Tunc. "B&M lists on the London Stock Exchange". londonstockexchange.com. Retrieved 22 June 2014. 
  9. ^ Barry, Chris (5 September 2006). "GlynWebb Changes Hands Again". Manchester Evening News. Retrieved 29 December 2010. 
  10. ^ Sengun, Tunc. "B&M acquires Kwik-save stores". talkingretail.com. Retrieved 22 June 2014. 
  11. ^ a b c Staff writer (15 October 2007). "B&M Bargains Buys Ex-Kwik Save Stores". Talking Retail. Retrieved 29 December 2010. 
  12. ^ Sengun, Tunc. "B&M acquires Woolworth stores". retail-week.com. Retrieved 22 June 2014. 
  13. ^ Sengun, Tunc. "B&M Acquires Au Naturale stores". retatail-week.com. Retrieved 22 June 2014. 
  14. ^ Sengun, Tunc. "B&M acquires Focus stores". retail-week.com. Retrieved 22 June 2014. 
  15. ^ Sengun, Tunc. "B&M sells National Lottery goods". halfdiscount.co.uk. Retrieved 22 June 2014. 
  16. ^ Staff writer (29 May 2010). "B&M Confirms Meteoric Rise as Pre-Tax Profits Hit All-Time High". The Grocer. Retrieved 29 December 2010. 
  17. ^ Bennett, Julia (21 May 2010). "B&M Staff Anger over 'Obscene' Profit". Blackpool Gazette. Retrieved 29 December 2010. 
  18. ^ Staff writer (20 June 2009). "Profits Up 95% at Expanding B&M Bargains". The Grocer. Retrieved 29 December 2010. 
  19. ^ Staff writer (28 March 2008). "Shop Profile — B&M Retail". The Grocer. Retrieved 29 December 2010. 
  20. ^ a b (subscription required) Staff writer (27 August 2004). "B&M's 'Brutal' Year Stems Growth". Retail Week. Retrieved 29 December 2010. 
  21. ^ Sengun, Tunc. "B&M wins Employee Growth Award". fasttrack.co.uk. Retrieved 22 June 2014. 
  22. ^ Sengun, Tunc. "B&M The Sunday Times Fast Track". fasttrack.co.uk. Retrieved 22 June 2014. 

External links[edit]