B & M

For other uses, see B&M.
B&M European Retail Value
Société anonyme
Traded as LSE: BME
Industry Retail
Founded 14 March 1978
Founder Malcolm Billington
Headquarters Liverpool, United Kingdom (operational headquarters)[1]
Luxembourg (registered office)
Number of locations
 500[2]
Key people
 Sir Terry Leahy(Chairman)
Simon Arora (CEO)
Paul McDonald(CFO)
Products Grocery, variety
Revenue £1,646.8 million (2015)[3]
£132.9 million (2015)[3]
£39.9 million (2015)[3]
Number of employees
 22,500 (2016)[4]
Website retail website corporate website

B&M European Retail Value S.A. (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 22,500 staff.[4] It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

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

The business was founded by Malcolm Billington as Billington & Mayman and the first store opened in Cleveleys, Lancashire, United Kingdom in 1978 and was acquired by Simon and Bobby Arora from Phildrew Investments in December 2004.[5]

In September 2006, the business saw significant growth, by acquiring the GlynWebb chain of Do It Yourself (DIY) stores, and converting them into the B&M Homestore format.[6] The company also acquired a number of former Kwik Save,[7][8] Woolworths[9] and Au-Naturale stores.[10]

The business moved into a new office and modern 620,000sq ft distribution centre based in Speke, Liverpool in 2010 and new operations, logistics and finance directors joined the business in 2011.[11]

In May 2011, B&M also purchased a number of Focus DIY stores.[12]

In December 2012, Clayton, Dubilier & Rice, one of the world’s leading private equity funds, acquired a significant stake in B&M, and Sir Terry Leahy and Vindi Banga joined the Board of Directors.[13]

In March 2014, the business acquired a majority stake in German discount retailer JA Woll, and then opened a new 500,000 sq ft distribution centre in Speke, Liverpool.[11] In June 2014, the business was the subject of an initial public offering.[14]

In November 2014, the business opened its 400th store (in Stockport).[15]

Operations

The business has 500 high street and out of town stores across the United Kingdom (March 2016), as well as 49 stores under the JA Woll and HAFU brands in Germany.[2] Since September 2012, some stores have also been selling National Lottery goods.[16]

Financial performance

The financial performance has been as follows:

Year ending Revenue
(£ million)		 Pre-tax profit
(£ million)		 Retained profit
(£ million)
2003[17] 64.6 1.2
28 February 2004[17] 69.7 -0.3
2005[8] 65.0
31 December 2006[8] 78.0
31 December 2007[18] 147.0 9.9
31 December 2008[19] 255.9 14.2
31 December 2009[20] 426.6 33.8 24.5[21]
31 December 2010 538.3 35.2 25.3
31 December 2011[22] 712.6 52 38.0
31 December 2012[22] 935.2 88.3 66.3
29 March 2014[3] 1,351.2 102.3 (19.4)
28 March 2015[3] 1,646.9 61.7 39.9

in 2014, upon detailed analysis, the Columbia Business school found the IPO of B&M overhyped due to an already saturated market in the UK. This turned out to be true as it failed to perform well in subsequent years.[23]

Press and awards

In 2009, B&M won the KPMG Employee Growth Award amongst Fast Track Companies.[24]

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.[25]

References

  1. ↑ "Arora brothers clean up thanks to B&M float". The Times. Retrieved 13 June 2015.
  2. 1 2 Sengun, Tunc. "B&M's website About page". Retrieved 26 March 2016.
  3. 1 2 3 4 5 "Preliminary Results for the 52 weeks to 28 March 2015" (PDF). B&M. Retrieved 13 June 2015.
  4. 1 2 Sengun, Tunc. "B&M's website Careers page". Retrieved 26 March 2016.
  5. ↑ "Sunday Times Rich List 2016: Sale bargain brother billionaires rank fourth in North West". Messenger. Retrieved 16 November 2016.
  6. ↑ Barry, Chris (5 September 2006). "GlynWebb Changes Hands Again". Manchester Evening News. Retrieved 29 December 2010.
  7. ↑ Sengun, Tunc. "B&M acquires Kwik-save stores". talkingretail.com. Retrieved 22 June 2014.
  8. 1 2 3 Staff writer (15 October 2007). "B&M Bargains Buys Ex-Kwik Save Stores". Talking Retail. Retrieved 29 December 2010.
  9. ↑ Sengun, Tunc. "B&M acquires Woolworth stores". retail-week.com. Retrieved 22 June 2014.
  10. ↑ Sengun, Tunc. "B&M Acquires Au Naturale stores". retatail-week.com. Retrieved 22 June 2014.
  11. 1 2 "Liverpool discount retailer B&M Bargains to create 200 jobs with new 500,000sq ft warehouse in Speke". Liverpool Echo. 10 October 2012. Retrieved 16 November 2016.
  12. ↑ Sengun, Tunc. "B&M acquires Focus stores". retail-week.com. Retrieved 22 June 2014.
  13. ↑ Sengun, Tunc. "Clayton Dubilier & Rice To Acquire Significant Stake in Leading UK Variety Retailer, B&M Retail". Retrieved 20 June 2014.
  14. ↑ Sengun, Tunc. "B&M lists on the London Stock Exchange". londonstockexchange.com. Retrieved 22 June 2014.
  15. ↑ "Why B&M could be the next big thing in British retailing". The Telegraph. 18 November 2014. Retrieved 10 September 2016.
  16. ↑ Sengun, Tunc. "B&M sells National Lottery goods". halfdiscount.co.uk. Archived from the original on 7 July 2014. Retrieved 22 June 2014.
  17. 1 2 (subscription required) Staff writer (27 August 2004). "B&M's 'Brutal' Year Stems Growth". Retail Week. Retrieved 29 December 2010.
  18. ↑ Staff writer (28 March 2008). "Shop Profile — B&M Retail". The Grocer. Retrieved 29 December 2010.
  19. ↑ Staff writer (20 June 2009). "Profits Up 95% at Expanding B&M Bargains". The Grocer. Retrieved 29 December 2010.
  20. ↑ Staff writer (29 May 2010). "B&M Confirms Meteoric Rise as Pre-Tax Profits Hit All-Time High". The Grocer. Retrieved 29 December 2010.
  21. ↑ Bennett, Julia (21 May 2010). "B&M Staff Anger over 'Obscene' Profit". Blackpool Gazette. Retrieved 29 December 2010.
  22. 1 2 Sengun, Tunc. "B&M's Financial performance 31/12/2012" (PDF). bandmretail.com. Retrieved 23 June 2014.
  23. ↑ Wang, Sisy (10 October 2014). Graham and Doddsville (PDF) (Fall of 2014 ed.). Washington: Columbia Business School (GSB). pp. 22–23. Retrieved 24 October 2016.
  24. ↑ Sengun, Tunc. "B&M wins Employee Growth Award". fasttrack.co.uk. Retrieved 22 June 2014.
  25. ↑ Sengun, Tunc. "B&M The Sunday Times Fast Track". fasttrack.co.uk. Archived from the original on 14 July 2014. Retrieved 22 June 2014.

External links

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