DISCOUNT retail giant B&M has announced that Bobby Arora, the last of the Arora brothers actively involved in the company, will step down as trading director in March next year.
The decision marks an early departure, as Bobby had initially agreed to remain in his role until 2026 under a £16 million pay deal, reported the Times.
Bobby, 52, along with his brothers Simon and Robin, purchased B&M in 2004 for £525,000. At the time, it was a struggling chain of 21 stores in the North of England.
Over the next two decades, the trio transformed it into a retail powerhouse with over 1,000 branches across the UK and France.
Simon, 54, served as B&M’s chief executive for 17 years before stepping down in 2022. Robin, 39, was also involved in the business as a director but no longer holds an active role. Despite their departures from operational positions, all three brothers remain shareholders in the company.
The Arora brothers, who grew up in Sale, Manchester, built their business acumen early, founding a successful wholesale venture, Orient Sourcing, in the 1990s.
Simon, Bobby and Robin AroraTheir close working relationship was highlighted by Simon in a 2022 interview. “There’s a Punjabi saying from our childhood that we both believe in: ‘One plus one equals 11’," he said.
“Bobby has been shoulder to shoulder with me throughout my business career and I do believe we have both been more effective by virtue of that relationship.”
B&M has announced that Gareth Bilton, the group’s current retail director with over 25 years at the company, will take over as trading director in 2025.
The announcement of Bobby’s departure coincided with the release of B&M’s interim financial results. The company reported revenues of £2.64 billion for the six months to September 28, a 3.7 per cent increase compared to the same period last year. Adjusted earnings rose to £274 million, up 2 per cent year-on-year.
B&M’s like-for-like sales showed signs of recovery, with a second-quarter decline of 1.9 per cent, an improvement from the 5.1 per cent drop seen in the first quarter, which had been impacted by poor weather. The home department performed particularly well, boosting both volumes and market share.
Despite rising costs, B&M’s chief executive Alex Russo reaffirmed the company’s commitment to keeping prices low. “We will not respond to national insurance increases by raising prices. Instead, we will continue to drive prices down for consumers by buying in volume,” he said.
The retailer, which operates 764 B&M stores and 338 Heron Foods outlets in Britain, as well as 129 B&M-branded stores in France, remains focused on growth. During the first half of the year, B&M opened 39 new stores, including 30 in the UK. It aims to eventually reach 1,200 B&M stores across the country.
Russo stressed that expansion would be carried out methodically. “We are not rushing store openings; we will grow in a disciplined manner,” he said.
