B&M shares slump as profit guidance cut again; CEO to retire.
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
24 February 2025 09:26:14
Source: Sharecast
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.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
