- First-quarter results out next week
- Shares down on limited guidance
In 2019, B&M European Value Retail (BME) opened the second-biggest distribution centre in Europe. Occupying 1mn square feet, the warehouse sits on the outskirts of Bedford and supplies 333 stores, with the capacity to serve many more. Five years down the line, however, and the discount chain’s growth story has faltered in the eyes of many. Its shares have declined by over a fifth since January and B&M is now one of London’s most shorted stocks.
Some investor concern stems from the fact that B&M failed to provide any formal guidance for the year to March 2025 when it published its annual results last month. This exacerbated fears about like-for-like (LFL) sales, which were lumpy last year and remain under pressure. The knotty question for shareholders, however – and for those investing in the retail sector more widely – is whether this metric matters as much as many think it does.