Variety goods discount retailer B&M has reported a growth in sales during the first quarter, fuelled by store openings.

According to its latest trading update for the 13-week period from 31 March 2024 to 29 June 2024, Q1 sales rose 2.4% to £1.3bn, driven by volume and a disciplined store opening programme across the three businesses.

For B&M UK, sales were up 1.5% to just over £1bn. “Strong, profitable progress made on the B&M UK store openings, with 19 gross stores opened in Q1, on track for 45 gross new store openings in the year. All stores opened since last year are performing ahead of expectations,” the retailer said.

B&M added that well-planned seasonal stock buying, particularly in Gardening, has delivered high sell-through in the quarter with no markdown risk in Spring/Summer. B&M UK Q1 gross margin performance has been strong and in line with expectations.

Alex Russo, Chief Executive, said: “The growth fundamentals of our business are strong, with a highly disciplined approach on pricing, product and high operational standards. We continue to offer our customers exceptional value at a time when household incomes are under pressure.

“Ahead of Q2, we have launched our Everyday Value range with more than 500 new lines in core categories across home, electrical and pet in the UK and France. As we transition towards Autumn/Winter in the months ahead, our relentless focus on Everyday Low Price and Everyday Low Cost will ensure we continue to serve our customers well.”