B&M shares slump to all-time low after meagre sales growth disappoints investors
Sales rose just 1.3 per cent across its 700 UK shops over the 13 weeks to June 28. Total group sales increased by 4.4 per cent to £1.4billion.
And it said sales of its fast-moving consumer goods – which include packaged food and cleaning products – fell during the period.
Shares fell by as much as 13 per cent yesterday to a fresh low of 223p, before closing down 9.1 per cent at 234.3p.
Last month, the retailer pointed to a 'challenging UK retail trading environment'. It said its core customer base of lower-income consumers were hesitant to spend due to 'limited real wage growth'.
Boss Tjeerd Jegen, who started last month, also hinted at a major overhaul ahead of the crucial Christmas period.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Auto Express
7 minutes ago
- Auto Express
Car Deal of the Day: This cheap BMW iX1 is perfect for high-mileage drivers
Sporty handling; desirable M Sport trim 12,000 miles a year; 287-mile range Just £285.79 a month The BMW iX1 might be the smallest electric SUV the German brand makes, but it packs a big punch. That's because it's a true all-rounder – practical, good to drive and efficient, plus it has that same mystical kerb appeal larger BMWs have in spades. Despite this strong list of attributes, the iX1 isn't as expensive as you might think, judging by today's offer. Advertisement - Article continues below This deal, from Lease Car UK, is perfect for high-mileage drivers because it offers a whopping 12,000-miles-a-year allowance for just £433.71 a month. It's a four-year deal that requires £5,552.52 as an initial payment – that's not bad for an agreement like this with such a high mileage limit. You'll be taking the keys to the eDrive 20 model, so that means one motor powering the front wheels. With 204bhp, performance is brisk, while that single motor brings a WLTP range of 287 miles. In our testing we've found 245 miles to be realistic in everyday driving, which is pretty impressive, while a 130kW maximum DC charging rate means a 10-to-80-per-cent charge takes around 30 minutes. This deal gets you an iX1 in desirable M Sport trim. Along with a racy bodykit, this model gives you bi-colour alloy wheels, aluminium trim on the interior, an M Sport steering wheel, and adaptive suspension to give a sportier drive. That's on top of the standard car's excellent curved display that has sat-nav and Apple CarPlay and Android Auto connectivity. The iX1 gives a sportier drive than its rivals, but remains plush and cosseting just like you'd expect from a BMW. It's also roomy despite its compact size, with plenty of rear-seat space and a good 490-litre boot. The Car Deal of the Day selections we make are taken from our own Auto Express Find A Car deals service, which includes the best current offers from car dealers and leasing companies around the UK. Terms and conditions apply, while prices and offers are subject to change and limited availability. If this deal expires, you can find more top BMW iX1 leasing offers from leading providers on our BMW iX1 page. Check out the BMW iX1 deal or take a look at our previous Car Deal of the Day selection here… Find a car with the experts MG4 and MGS5 EV prices slashed in reply to Government Electric Car Grant MG4 and MGS5 EV prices slashed in reply to Government Electric Car Grant In order to boost sales, MG is announcing its own a £1,500 grant for some of its EVs Chinese cars will take over as Britain's best sellers Chinese cars will take over as Britain's best sellers With a dramatic rise in sales, Mike Rutherford thinks it's only a matter of time before Chinese cars outsell all other countries in the UK Roll over diesel: EVs are now doing the big mileage in the UK Roll over diesel: EVs are now doing the big mileage in the UK The average UK electric car now covers more than 10,000 miles per year, a similar amount to the average diesel.
The Sun
7 minutes ago
- The Sun
Marcus Rashford completes stunning Barcelona loan transfer as he finally seals Man Utd exit
MARCUS RASHFORD has officially joined Barcelona on a season-long loan from boyhood club Manchester United. The 27-year-old winger's Old Trafford future was deemed practically over when the club handed his No10 shirt to new signing Matheus Cunha. 4 Rashford has been looking for a new home after falling out with Ruben Amorim a month after the manager arrived from Sporting Lisbon. And the England star has finally secured his dream move to Barcelona, who now have an option to BUY the Red Devils academy graduate come the end of next season for a reported £26million. The move will be Rashford's second consecutive loan spell after a six-month stint with Aston Villa in the second half of last season. Barcelona are understood to be paying 100 per cent of Rashford's whopping £325,000-a-week wages - which he's unlikely to get should he permanently move to the Nou Camp in 2026. Taking Rashford on an initial temporary basis helps Barca as they continue to navigate a difficult financial situation, with the player also eager to secure a place in the England squad for the 2026 World Cup. The deal does not allow United to recall the forward and a permanent switch will see Rashford end his 20-year association with United. The Red Devils will save £15MILLION in wages over the next year, which could provide Amorim with vital funds to overhaul his squad. United have never publicly closed the door to Rashford being reintegrated, although it's believed he can never play under Amorim again. The local lad joined United at the age of seven and has scored 138 goals in 426 appearances since his breakthrough debut in 2015. Marcus Rashford gives the thumbs up as he arrives to seal loan move to Barcelona Joining Barcelona has been Rashford's No1 option since he declared in December that he was ready for a new challenge after being iced out by Amorim. He will be the first England international to wear Barcelona colours since Gary Lineker, who played there between for three years between 1986 and 1989. Rashford will also wear the historic No14 shirt at the Camp Nou outfit, previously worn by legends such as Johan Cruyff and Thierry Henry. Current Bristol City midfielder Marcus McGuane joined Barca's B Team in 2018, making one first-team friendly appearance after coming off from the bench with 13 minutes remaining in 2018. Asked by a Spanish influencer if he would like to play alongside Lamine Yamal a few months back, Rashford said: "Yes, for sure. Everyone wants to play with the best. Hopefully... we'll see." SunSport exclusively revealed that he arrived in sunny Spain on Sunday night after a nightmare private plane journey was derailed by none other than Manchester City supporting rock band Oasis. The forward completed a medical with the LaLiga champions on Monday, with the aim of being able to join their pre-season tour of Japan and South Korea on Thursday. A debut could even come as soon as Sunday morning against Vissel Kobe. It is thought Liverpool forward Luis Diaz was a priority target for Barca, but the Catalans' advances were rejected earlier in the window. 4 Hansi Flick's side also agreed personal terms with Nico Williams before the Spain international opted instead to stay at Athletic Club and sign a new contract until 2035. Rashford will still have two years left on his United deal when this proposed loan move ends. Villa turned down their £40m option to buy. But his career at Old Trafford has appeared to be over since Amorim claimed he would rather put his 63-year-old goalkeeper coach on the bench than the forward because of what he considers a lack of effort. He enjoyed his short-term loan at Villa, scoring four goals in 17 appearances for Unai Emery's side and often pipping United target Ollie Watkins to the starting line-up. It saw him get recalled to the England squad for Thomas Tuchel's first two games, but he missed out on a second call-up after his season was curtailed by a hamstring injury picked up in April. But after a summer of intense training in Marbella, Rashford - who has been training alone at Carrington away from the first-team squad - has now fully recovered and is ready for action. But ex-United star Teddy Sheringham weighed in on the "soul-destroying" Rashford debate before his second loan deal was confirmed. Sheringham told Sky Bet: "I find the whole episode very soul-destroying, compared to the way I was back in the day and how I strove to get the privilege to play for such a huge football club. "From my perspective, if you go from Manchester United to Barcelona, that's a step that he hasn't deserved." With one of the five "Bomb Squad" players sorted, Amorim is still trying to shift Jadon Sancho, Antony, Alejandro Garnacho and Tyrell Malacia. 4
The Sun
7 minutes ago
- The Sun
Dragon's Den star & gold medal-winning athlete took out £100k in fraud loans despite £75k show investment
A DRAGON'S Den winner and former Team GB gold medallist fraudulently used Covid loans to buy himself a £1.8million mansion. Rick Beardsell illegally pocketed £100,000 worth of taxpayers cash to purchase his home - despite receiving a £75,000 investment during his stint on the BBC show. 6 6 6 The 46-year-old fiddled two Covid Bounce Back loans to buy himself five-bed Holly House in the exclusive village of Prestbury, Cheshire. Dad-of-two Beardsell was only entitled to apply for one loan worth £50,000, but fraudulently applied for two and greatly exaggerated his annual turnover by up to 23 times. It came after the world champion sprinter had successfully secured investments from TV Dragons Tej Lalvani and Deborah Meaden for his successful protein shake bottle business, ShakeSphere. Chester Crown Court heard he applied for the loan to prop up his other company, Sports Creative Ltd, but none of the money went towards the sportswear business. Prosecutor Geoff Whealan told the court Beardsell made the fraudulent applications to HSBC in December 2020 and then to NatWest in January 2021. He said: ''The defendant stated on the HSBC form that the turnover of Sports Creative was £485,000 and on the NatWest form said it was £320,000. "But unaudited financial statements showed turnover for the year end February 2020 was £20,622. ''The turnover was clearly exaggerated to secure the maximum bounce back loan. "Subsequent transactions showed the bounce back loan funds were not being used for the economic benefit or business purposes of Sports Creative at this time.'' The money arrived in Sports Creative's account in January 2021, but then almost £400,000 was transferred to Beardsell's personal Santander account in the space of six months. Then £431,160.80, including the remaining bounce back loan funds, was transferred to a firm of solicitors for the purchase of Holly House he bought with his wife Ezster. Mr Whelan added: ''In effect the bounce back loan funds had been used for this purchase. "It can be inferred from the defendant's conduct that it was his intention to use the bounce back loans for this purpose at the time he made the application for it." Beardsell, who won two World Records for sprinting, faced three years in jail after he admitted two charges of fraud. In October 2024, he attended an interview under caution at the Insolvency Services offices. In a statement he said: ''The guidance pertaining to Bounce Back Loans indicated that the proceeds of such loans may be utilised for any purpose that yields a direct benefit to the company. ''At that juncture, I sought professional advice and was advised that such purposes include, but are not limited to, the coverage of overhead expenses or outstanding liabilities, as well as the investment in company assets or property. "The funds that were transferred to my personal account constituted a director's loan and other economical overheads for the business.'' Mitigating, his counsel Nichola Cafferkey explained that the loans had been repaid in full to the banks. She said: ''The loss of his good character is of some significance in respect of a man who has dedicated his life to his family, his professional entities and also his sporting endeavours. "These offences were out of character and were committed four years ago. "He has taken responsibility and repaid the money back. He knows that it's his own fault. "He has brought shame on his family and brought shame on himself. ''His wife is also his business partner and concerns that they have had about the ability to provide financially for their young children have been significant." The court also heard that Beardsell had suffered a series of medical issues both before and after securing the loans. Ms Cafferkey continued: "A year prior to the submission of the first loan application, the defendant was diagnosed with an aggressive form of testicular cancer and required surgery and extensive chemotherapy. "The chemotherapy was successful but led to some significant side effects. ''One of those being vertigo, of which he had a severe episode which required hospitalisation and thereafter there are ongoing long-term issues as a result of that. 6 6 "The investigations brought on by the defendant's own actions has had an impact on his family which has led to a situation where he has been experiencing significant stress over the past few years. "On top of that there are ongoing knee pains associated with his athletic success at national and international level. "He has been running a business for many years without issue and it is plain he is extremely remorseful and regretful for his actions. "The impact on his wife's physical health in terms of stress and strain has been significant. There has been significant weight loss and insomnia. "This will be the only time that Richard Beardsell appears before the court." Beardsell was sentenced to 18 months in prison, suspended for two years. He was also ordered to complete 250 hours of unpaid work and pay costs of £11,142.70. Judge Simon Berkson told Beardsell: "You fraudulently lied and lied again in your applications for these loans. "They were supposed to be for use in keeping your business running but the money was used for your own personal needs and the needs of your family. "This is not a victimless crime. The government was trying to help struggling businesses at the time of national crisis. "People were in lock down, people were dying and people were very ill at the time when people required their public services. "You used fraudulently obtained public funds for your own use, depriving honest people of the scheme's funds when the country was in crisis. "You are a generally successful man both in business and in sports, particularly your involvement with athletics. "You continue to run your business and it was on the TV programme Dragons' Den. "You are a married person with two children and they are young children. You have survived an aggressive form of cancer. "I have concluded that an immediate custodial sentence would have a significant harmful impact on your wife and children.'' 6
