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(Sharecast News) - FTSE 250 (MCX) 23,442.22 0.15%
Shares in B&M slumped on Wednesday as the retailer reported a 2.3% decline in UK like-for-like sales for the first quarter.
The lower UK sales were attributed to a slower start to garden and outdoor sales compared with last year, when unusually early warm and dry weather drove 10.9% LFL sales growth, B&M said in a trading statement on Thursday.
"Our first quarter is our seasonally most variable for sales, and the previously mentioned slower start to our garden season against a very strong comparable last year made this especially so in Q1," said CEO Tjeerd Jegen.
"Against this backdrop, the like-for-like sales decline at B&M UK was expected, but it was pleasing to see our general merchandise categories return to growth in May and June, and our garden and outdoor inventories ending the season at normal stock levels."
The decline was partly offset by a 5.3% jump in France LFL sales to £156m, while the Heron Foods unit delivered growth of 2.6% on the same basis to £142m. Overall group sales increased 2% to £1.4bn.
Vistry, Bellway and Taylor Wimpey gained after FTSE 100 peer Barratt Redrow launched a new share buyback programme as part of a new £400m capital return in FY27.
Watches of Switzerland Group gained again a day after a report stated the luxury goods seller had reportedly held talks in recent months over potential offers to take the luxury watch retailer private.
Chief executive Brian Duffy reportedly responded to the initial approaches because he believes the stock market undervalues the company. It was understood that no formal offer has been made.
Private equity funds and strategic bidders have shown interest in the group, while another said the company was seeking an offer of significantly more than £7.50 per share, the Reuters news service reported, citing unnamed sources.
FTSE 250 - Risers
Vistry Group (VTY) 270.80p 5.29%
Watches of Switzerland Group (WOSG) 776.00p 4.14%
Bridgepoint Group (Reg S) (BPT) 304.80p 4.10%
Ocado Group (OCDO) 179.50p 2.92%
Kier Group (KIE) 220.40p 2.90%
Taylor Wimpey (TW.) 81.84p 2.71%
Savills (SVS) 919.00p 2.68%
RHI Magnesita N.V. (DI) (RHIM) 2,885.00p 2.67%
Bellway (BWY) 1,930.00p 2.55%
Bodycote (BOY) 672.00p 2.52%
FTSE 250 - Fallers
B&M European Value Retail (BME) 192.00p -5.88%
Seraphim Space Investment Trust (SSIT) 177.60p -4.89%
CMC Markets (CMCX) 709.00p -4.32%
Oxford Nanopore Technologies (ONT) 112.10p -3.86%
Raspberry PI Holdings (RPI) 790.75p -3.72%
Close Brothers Group (CBG) 401.40p -3.54%
Bloomsbury Publishing (BMY) 622.00p -3.42%
THG (THG) 30.36p -2.88%
Pan African Resources (PAF) 91.45p -2.73%
Supermarket Income Reit (SUPR) 86.75p -2.47%
