Skip to content 
Search

Latest Stories

B&M puts loss-making German unit under review

B&M European Value Retail wrote down the value of its German unit Jawoll and put it under review.

The latest move by the company came as the unit turned into a loss-maker earlier this week.


Jawoll, which was acquired by the B&M in 2014, recorded a 3.2 per cent rise in sales but fell to a loss of £12.2 million, in the first half of its financial year.

Shares in B&M were moved down earlier week over seven per cent, paring gains for 2019 to 24.3 per cent.

The performance in Germany overshadowed a firm first half from its main British business.

The Indian-origin Simon Arora-led company has 98 stores in Germany, primarily operating under the Jawoll brand.

B&M trades from 645 stores in the UK operating under the B&M brand and 290 stores under the Heron Foods and B&M Express brands.

B&M’s overall pretax profit moved down by 70.5 per cent to £32.2m, which included an impairment charge of £59.5m relating to its German unit, the company said in its financial report for its first half ended in September.

Arora, B&M’s chief executive, blamed the company’s German team, which had ordered higher stock while trading at the Jawoll chain remained weak.

About 50 per cent of Jawoll’s £12m losses were due to an increase in warehouse and transport costs.

The group’s latest setback is a rare negative development for the Liverpool-based B&M.

Arora, 49, started his business in 1995 supplying low price products from Asia to retailers before acquiring B&M in 2004, which is valued at £3.5 billion.

B&M makes 86 per cent of its sales from its British stores, where sales rose by 13.8 per cent.

The Asian-origin top executive of the business said that he was moving ahead with plans to raise the number of stores from 645 to 950.

More For You

Bangladesh seeks US deal to shield garment industry from tariffs

Workers are engaged at their sewing stations in a garment factory in Savar, on the outskirts of Dhaka, on April 9, 2025. (Photo by MUNIR UZ ZAMAN/AFP via Getty Images)

Bangladesh seeks US deal to shield garment industry from tariffs

BANGLADESH, the world's second-biggest garment manufacturer, aims to strike a trade deal with the US before Donald Trump's punishing tariffs kick in next week, said the country's top commerce official.

Dhaka is proposing to buy Boeing planes and boost imports of US wheat, cotton and oil in a bid to reduce the trade deficit, which Trump used as the reason for imposing painful levies in his "Liberation Day" announcement.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Bond yields ease following Starmer’s support for Reeves

THE COST of UK government borrowing fell on Thursday, partially reversing the rise seen after Chancellor Rachel Reeves became emotional during Prime Minister’s Questions.

The yield on 10-year government bonds dropped to 4.55 per cent, down from 4.61 per cent the previous day. The pound also recovered slightly to $1.3668 (around £1.00), though it did not regain all its earlier losses.

Keep ReadingShow less
modi-trump-getty
Modi shakes hands with Trump before a meeting at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Indian exporters watch closely as Trump says trade deal with India likely

THE US could reach a trade deal with India that would help American companies compete more easily in the Indian market and reduce tariff rates, President Donald Trump said on Tuesday. However, he cast doubt on a similar deal with Japan.

Speaking to reporters on Air Force One, Trump said he believed India was ready to lower trade barriers, potentially paving the way for an agreement that would avoid the 26 per cent tariff rate he had announced on April 2 and paused until July 9.

Keep ReadingShow less
Kolhapuri sandal sales surge in India post Prada controversy

Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi

Kolhapuri sandal sales surge in India post Prada controversy

INDIAN footwear sellers and artisans are tapping into nationalist pride stoked by the Prada 'sandal scandal' in a bid to boost sales of ethnic slippers with history dating back to the 12th century, raising hopes of reviving a struggling craft.

Sales are surging over the past week for the 'Kolhapuri' sandals that have garnered global attention after Prada sparked a controversy by showcasing similar designs in Milan, without initially crediting the footwear's origins.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy grew 0.7 per cent in Q1 2025, fastest in a year

THE UK economy expanded at its fastest pace in a year during the first quarter of 2025, driven by a rise in home purchases ahead of a tax deadline and higher manufacturing output before the introduction of new US import tariffs.

Gross domestic product rose by 0.7 per cent in the January-to-March period, the Office for National Statistics (ONS) said, confirming its earlier estimate. This was the strongest quarterly growth since the first quarter of 2024.

Keep ReadingShow less