News comes as retailer reports “strong” growth in sales for the six months to September 26.
B&M expects to open a further 40-45 new stores in the UK, most of which will be in its fourth quarter.
The value retailer confirmed the news as it announced “strong” growth in sales and raised its half-year profit guidance this morning (September 29).
It now expects to post an adjusted EBITDA of £285 million for the six months to September 26, up from its previous range of £250m to £270m, reported Retail Gazette.
Group revenues rose 25.3% during the period, with UK stores recording revenue growth of 29.5%.
“Our group has performed well in the first half,” commented Simon Arora, chief executive at B&M. “Our business model is proving well-attuned to the evolving needs of customers, given our combination of everyday value across a broad range of product categories being sold at convenient out-of-town locations.”
B&M has significantly increased its licensing activity over the past 12 months, earning it a nomination in the Radar Award category at The Licensing Awards 2020.
Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter and @licensing_source on Instagram.
