B&M is set to open a further 30 stores across the UK in the next 12 months.

The news comes after the retailer announced this morning it expected to grow sales and profits this financial year.

The business said it had registered revenue of nearly £5 billion in the last financial year, a rise of 6.6% compared to the year before.

Despite its profits dropping by 17% to £436 million B&M said the most recent financial year would act as a measure of future success.

B&M chief executive, Alejandro Russo said: “The 2023 financial year has been another year of strong underlying progress for B&M and the long-term future looks very positive.

“It has also been a year of planned management transition. Simon Arora has stepped down after 19 years of leading this business and we thank him and wish him well for the future.

“B&M has many years of profitable growth ahead, to be delivered through our four channels of growth (existing B&M UK stores, new B&M UK stores, France and Heron) and in delivering this growth, B&M will generate cash and compound earnings growth for our shareholders.

“We are actively responding to the short-term pressure on consumers from the cost-of-living crisis, with a relentless focus on price and value."

He added: “We expect to grow sales and profits in FY24, despite economic uncertainty.”

Bicester Advertiser: See where the five new B&M stores that opened in May are located.See where the five new B&M stores that opened in May are located. (Image: PA PICTURE DESK)

New B&M stores opening in the UK

B&M opened five new stores in the UK in May alone.

These stores were located in:

  • Armagh - May 5 (re-launch)
  • Widnes - May 24
  • Fforestfach - May 26
  • Jarrow - May 27 (re-launch)
  • Fazakerley - May 31

According to The Mirror, B&M is set to open a further 30 stores over the next 12 months.

Some of those new stores will include relations of current stores to bigger sites. 

As of yet, the locations of these new stores have yet to be revealed.

B&M stores closed in 2023

As B&M looks to open new stores in the next 12 months it has already closed eight UK stores in 2023. 

These stores are:

  • Castlegate Shopping Centre, Stockton - February 25
  • Maesglas Retail Park, Newport, Wales - March 4
  • Boucher Road, Belfast - March 26
  • Queens Drive Retail Park, Kilmarnock - March 26
  • Broadwalk Shopping Centre, Bristol - March 29
  • Bishop Auckland, County Durham - May 5
  • Widnes, Cheshire - May 17
  • Burden Retail Park, Bolton - May 24

We will bring you more information as it becomes available.