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Variety goods value retailer B&M European Value Retail upgraded its outlook on core earnings, driven by 'strong' Christmas performance.
The company forecast fiscal 2022 adjusted earnings before interest, taxes, depreciation, amortisation and depreciation, or EBITDA, i the range of £605 million to £625 million, ahead of the current analysts' consensus estimate of £578 million.
For the 13 week period from 26 September 2021 to 25 December 2021, revenue was up 0.1% year-on-year, and up 22.5% over a two-year period.
'Our decision to take receipt of imported Christmas stock early in the season meant we were able to provide customers with great products at great prices,' the company said,
The company said 9 gross new B&M UK fascia stores opened in Q3, with 2 closures, and it expected to open 13 further stores before FY22 year-end.