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Low cost chain B&M has mentioned it is going to speak in confidence to 45 new shops this yr after gross sales soared in the course of the coronavirus lockdown.
It mentioned its enterprise mannequin was “well-attuned” to buyer wants, with low cost items being bought at out-of-town shops.
Retailers have had blended fortunes in the course of the coronavirus pandemic.
In August, retail gross sales had been boosted by elevated spending on DIY, but clothing sales still lagged.
Supermarkets and DIY shops are among the many retailers which have seen excessive demand in the course of the pandemic as individuals stocked up on meals and residential enchancment items throughout and after lockdown.
Final week, Tesco and Morrisons again put limits on the number of some items that shoppers could buy to attempt to stop a repeat of panic-buying which led to shortages in March.
Rising to the problem
B&M, which sells items together with DIY and foodstuffs, mentioned its workers had carried out properly to maintain up with demand in the course of the half yr.
It initially closed 60 shops in procuring centres in the course of the pandemic, however reopened them fairly shortly.
A spokesman for the group mentioned that lots of people had been on the lookout for methods of preserving spending down in the course of the lockdown, which attracted new clients.
These clients have stored coming again.
Group gross sales jumped by 25.3% between 29 March and 26 September, and the retailer raised its earnings forecast for the interval to about £285m from its earlier estimate of £250m to £270m.
“Our individuals have risen to the numerous challenges posed by the Covid-19 disaster, not least in serving our clients by way of a interval of excessive demand, preserving our cabinets stuffed, offering a clear and protected procuring setting, in addition to sourcing larger volumes than we had deliberate,” mentioned Simon Arora, B&M chief govt.
“I thank all of them for his or her dedication, arduous work and resilience.”
B&M mentioned it anticipated to speak in confidence to 45 new shops within the yr to April, principally within the fourth quarter of the yr. Nevertheless, it warned that some smaller shops could possibly be closed.
Regardless of brilliant prospects for some retailers, others have made dire warnings about the way forward for retail within the UK.
Final week, Subsequent boss Lord Wolfson warned that thousands of traditional retail jobs were “unviable” due to the accelerated shift to on-line procuring caused by the pandemic.
