Britain's B&M appoints interim CFO, misses half-year profit expectations (updated)

B&M European Value Retail

13/11/2025 07:24

Corrects to drop reference to profit being below expectations in headline and paragraph 1; says adjusted operating profit in paragraph 4, not adjusted core profit

Nov 13 (Reuters) - Britain's B&M BMEB.L appointed Helen Cowing as its interim finance chief on Thursday and reported a 31.5% drop in its half-year adjusted operating profit as the discount retailer struggled with weak consumer demand and cost pressures.

British retailers are navigating a difficult environment, with high interest rates and persistent, albeit slowing, inflation forcing many households to cut back on discretionary spending amid worries of possible tax hikes in the upcoming budget.

B&M, which sells everything from garden furniture and electrical items to toys and food, disclosed a turnaround strategy under new boss Tjeerd Jegen, from which it hopes to restore sales and pull up profits.

The company reported adjusted operating profit of 177 million pounds ($237.55 million) for the 26 weeks ended September 27, below 258 million pounds in the year ago period.

($1 = 0.7451 pounds)

 (Reporting by Rishab Shaju and Yamini Kalia in Bengaluru; Editing by Mrigank Dhaniwala and Subhranshu Sahu)

 ((Rishab.shaju@thomsonreuters.com ; +91 9048142177))