B&M European Value Retail’s CFO resigns as the company discloses a £7 million freight cost accounting error impacting its fiscal year 2026 outlook. The retailer plans a third-party review of the issue, attributing the error to an operating system update earlier this year. Share prices dropped 22.75% on the news. The company revised its FY26 outlook, with adjusted EBITDA now forecasted between £470 million – £520 million. CEO Tjeerd Jegen outlined a turnaround plan, emphasizing operational weaknesses and a new strategy called “Back to B&M Basics” to drive growth. Executives plan to focus on cost discipline and technology investments for analytics.

Read more at Yahoo Finance.: B&M reveals freight cost accounting error as CFO quits