From Yahoo Finance: 2025-06-04 07:15:00

Sales at B&M’s UK stores dropped by 3.1% in the past year, with profits falling by 13.2% to £431m due to limited wage growth among lower-income consumers. Shares fell by 7% post-results. Meanwhile, Greggs reported rising sales of iced drinks and snacks amidst cautious consumer spending and increased disposable income from higher wages.

Average wages across the UK economy increased by 6.4% in the year to April, outpacing inflation at 3.5%. Hotel and restaurant staff saw an 8.5% pay increase, while retail workers received a 6.9% raise over the same period. Recent public sector pay awards were higher than expected, adding pressure on finances.

B&M, led by its finance director, struggled to attract new customers despite the economic climate. Investment director Russ Mould stated that the discount retailer should have thrived during a period of financial constraint. Even with high-profile shoppers like Boris Johnson and his wife, B&M faced challenges in gaining market share.

WH Smith, set to exit British high streets, reported a 7% sales increase in travel shops at railway stations, airports, and hospitals. The company, selling its high street stores to Modella Capital for £76m, is on track to meet full-year financial targets and looks forward to peak summer trading.



Read more at Yahoo Finance: B&M sales and profits fall as lower-income consumers miss out on pay rises