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B&M European Value Retail
B&M European Value Retail (BME) investor relations material
B&M European Value Retail Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 TU earnings summary22 Jan, 2026
Executive summary
Q3 began with negative low single-digit like-for-like sales but rebounded in December with 3% like-for-like growth in B&M UK, with similar positive trends in early January, driven by strong seasonal sales and balanced performance between general merchandise and FMCG.
France delivered positive like-for-like growth, though at a slower rate, while Heron Foods underperformed both in sales and profitability.
The company is accelerating its 'Back to B&M Basics' program, focusing on SKU rationalization, improved availability, and strategic clearance to lay the foundation for sustainable like-for-like growth.
The company is investing in price and clearing discontinued lines to support long-term growth, impacting near-term financial performance.
Full-year guidance for adjusted EBITDA (pre-IFRS 16) has been revised down to £440m–£475m from £470m–£520m.
Financial highlights
Group Q3 revenue grew 2.9% year-over-year to £1,737m; year-to-date revenue up 3.6% to £4,486m.
B&M UK Q3 revenue up 1.9% YoY to £1,413m, with like-for-like sales down 0.6%; December like-for-like sales up 3%.
B&M France Q3 revenue up 8.5% YoY to £186m, like-for-like up 0.4%.
Heron Foods Q3 revenue up 1.4% YoY to £138m, like-for-like down 0.1%.
Double-digit sales increases were observed in 153 stores trialing improved availability on 250 best-selling lines.
Outlook and guidance
FY26 adjusted EBITDA (pre-IFRS 16) now expected at £440m–£475m, down from previous £470m–£520m, reflecting ongoing investments in price competitiveness, clearance, and Heron Foods' underperformance.
Actions underway to restore sustainable like-for-like growth in the UK over the next 12–18 months.
Store opening plans remain unchanged, with 40–45 new stores targeted for the year.
Impact of 'Basics' on gross margin trend?
Details on Heron Foods customer proposition review?
Quantify near-term impact of price/clearance?
Heron Foods: Outline long-term strategy
Brown box margin improvement strategy
Measure individual Back to Basics sales uplift
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Next B&M European Value Retail earnings date
H2 20263 Jun, 2026
B&M European Value Retail
Next B&M European Value Retail earnings date
H2 20263 Jun, 2026
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Frequently asked questions
B&M European Value Retail S.A. operates a chain of discount retail stores offering a wide range of products, including food, home goods, toys, and seasonal merchandise. The company serves value-oriented consumers through locations primarily in the United Kingdom and continental Europe. The company is headquartered in Luxembourg City, Luxembourg, and its shares are listed on the LSE.
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