B&M shares slump as profit guidance cut again; CEO to retire
B&M European Value Retail
267.70p
16:30 28/03/25
2.69%
7.00p
Shares in UK discount retailer B&M slumped on Monday after profit guidance was cut again on the back of an uncertain economic outlook and announcement that chief executive Alex Russo would retire at the end of April.
B&M European Value Retail
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B&M European Value Retail S.A. (DI)
269.90p
17:15 28/03/25
3.37%
8.80p
Cboe UK 250
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17:14 28/03/25
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17:14 28/03/25
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-104.20
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15,126.52
17:14 28/03/25
-0.19%
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25,199.49
17:14 28/03/25
-0.19%
-47.39
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17:14 28/03/25
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-28.18
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25,716.74
17:14 28/03/25
-0.19%
-48.31
Cboe UK Consumer Non-Cyclicals Sector
14,578.52
17:14 28/03/25
1.09%
156.91
Cboe UK Consumer Non-Cyclicals Sector NTR
24,975.69
17:14 28/03/25
1.09%
268.81
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17:14 28/03/25
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17:14 28/03/25
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4,671.27
16:39 28/03/25
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General Retailers
4,494.42
17:14 28/03/25
-0.12%
-5.27
The company said annual adjusted core earnings were now expected to be in the range of £605m to £625m down from a previous trimming of guidance to £620 - £650m outlined in January. The latest cut also includes the potential impact of exchange rate volatility on the valuation of stock and creditor balances.
Shares in the company were down 7% in London morning trade.
It said it is in the advanced stages of a recruitment process to appoint a new CEO.
Reporting by Frank Prenesti for Sharecast.com