Sunday, January 10, 2021

B&M Boom

 B&M benefited from being classified as an essential retailer which allowed it continue trading through the tiered system of restrictions and the subsequent lockdown while non-essential stores were forced to close. Sales have also been helped by having shops at out-of-town retail parks which have been busier than high streets during the pandemic. Sales rose 22.5 per cent to £1.4bn in the 13 weeks to 26 December. The company during the period opened 18 new stores, taking its total to 673.

Simon Arora and his family are the biggest shareholders of B&M via an offshore trust which scooped a £44m payout just two months ago. The founder and chief executive of B&M  handed himself a £30m dividend.

B&M Bargains boss pays himself £30m after bumper lockdown sales | The Independent

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