B&M European Value Retail SA (B&M) is one of the UK’s leading variety goods value retailers, providing customers with a limited assortment of the best-selling items across a range of Grocery and General Merchandise categories, all at value prices. the Group is organized into three operating segments, comprising the three separately operated businesses within the Group; UK B&M, UK Heron, and France B&M. Its business model is to directly source a targeted range of food, FMCG, and General Merchandise products at the best prices we can, enabling them to sell them to customers at value prices. Its limited assortment of best-selling products enables them to constantly introduce new products and react quickly to what’s on trend and changes in demand patterns. In FY2022, the group had around 1,119 stores in total with 808 B&M stores and 311 Heron Foods stores adding 28 stores during the fiscal.
In FY2022, the gross new store openings across each segment were: 34 stores in B&M UK, 16 stores in Heron Foods, and 4 stores in France. The net growth in its store estate, stated after closures and relocations, was 20 stores for B&M in the UK, 5 stores for Heron Foods, and 3 stores in France. Therefore, the Group's overall store count increased by 2.6% to 1,119 during the year.
It is expected to open approximately 40 gross new B&M UK stores in FY2023 and remain committed to its long-term target of at least 950 stores. However, this rollout potential is looking increasingly conservative given recent performance. Heron Foods expects to open approximately 15 gross new stores, with a similarly paced rollout in future years.
The Group disposed of Jawoll’s entire share to a private equity-led consortium in FY2020 bringing the total store count to 1050 down by a net of 43 stores. In October 2018, B&M also acquired Babou in France with a chain of 95 stores as a part of its strategic expansion.
In FY2017, B&M announced the acquisition of Heron Food Group a discount convenience retailer operating predominantly in the North of England with 251 stores. The acquisition of Heron led to strong growth of the group adding to its existing line of business.
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