B&M European Value Retail SA (LSE:BME) UK revenues fell over 9% in the first quarter despite the launch of its first online trial, but the discounter kept its profit guidance for the year unchanged.
Group revenue for the 13 weeks to 25 June was down 2.2% on a constant currency basis, with the group reporting income of £1.16bn compared to £1.18bn.
For the full year, the FTSE 100-listed company expects underlying earnings (EBITDA) to be between £550mln and £600mln, which is the same as the guidance issued on 31 May.
In its UK B&M stores, excluding B&M Express, like-for-like revenue was down 9.1% to £957mln from just over £1bn, with the company saying last year’s performance was distorted due to “exceptionally high sales”.
Heron Foods, the chilled foods subsidiary, performed ahead of internal expectations, with revenue up £11mln to £113mln.
France was stronger, with revenue growth up £23mln to £91mln, largely boosted by strong performance in garden and leisure.
Operationally, the group launched online trial within the quarter, with roughly 1,000 B&M stores in the UK now offering delivery.