B&M European Value Retail S.A. Covid-19 Update (4299I)
April 01 2020 - 6:29AM
UK Regulatory
TIDMBME
RNS Number : 4299I
B&M European Value Retail S.A.
01 April 2020
01 April 2020
B&M European Value Retail S.A.
(the "Company" or "Group ")
COVID-19 Update
As a significant retailer of food, drink, cleaning, healthcare,
pet food and other essential products our B&M UK fascia and
Heron Foods businesses have continued to trade following the
guidance issued by the UK Government on 23 March 2020. Our first
priority has been to protect and support our customers and
colleagues. We have implemented Government advice regarding social
distancing across our business.
In the UK, B&M traded from 656 stores and a further 293
Heron stores as at the 29 March 2020 year-end. We have reluctantly
decided to temporarily close 49 B&M UK stores in light of
current trading conditions affecting those locations. These are
typically small format stores and in some cases are located within
shopping centres that have largely ceased trading. Some 42 of the
49 stores are close to other larger B&M stores. We will review
the trading patterns on an on-going basis and intend to re-open
those stores as soon as normal shopping patterns resume.
The rest of our store estate in the UK continues to trade in
line with Government guidance. The temporarily closed stores
represent 3% and 2% of FY20 revenue and store contribution EBITDA
respectively. Colleagues at the affected stores in the UK have been
furloughed under the Government's Coronavirus Job Retention
Scheme.
All our Heron Foods stores continue to trade. Our 101 stores in
France under the Babou and B&M fascias are currently closed
under the government restrictions in force there. As previously
announced, we completed the sale of our German business on 27 March
2020.
We are grateful to our committed and hard-working colleagues for
their remarkable effort and dedication in our stores and supply
chain functions in helping customers at this very challenging time.
To reward our store and distribution colleagues the UK business is
now paying 10% enhancement to pay rates to reflect the additional
workload that the guidelines impose. We have extended our B&M
staff discount scheme to all NHS workers, and are donating GBP1m
worth of food and toiletries to Food Banks across the UK.
Enquiries
B&M European Value Retail S.A.
For further information please contact +44 (0) 151 728 5400 ext
5766
Simon Arora, Chief Executive
Paul McDonald, Chief Financial Officer
Steve Webb, Investor Relations Director
Investor.relations@bandmretail.com
Media
For media please contact +44 (0) 207 379 5151
Daniel Yea, Maitland
bmstores-maitland@maitland.co.uk
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END
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