DISCOUNTER B&M has promised to stock more Disney and Lego products as it plans to open 50 new stores this year.
The budget store reported that its profits were up with year despite a “challenging” retail sector.
Bosses put B&M’s success down to its range of toys and as a result has promised more, including some big brands.
It also plans to fill shelves with playthings from toymakers MGA, the company behind brands like LOL Surprise, Bratz, Baby Born and Little Tykes.
This year, the retailer opened the doors of 54 new stores bringing the total to 650 branches across the UK, as well as others in Germany and France.
Adding another 50 this year will help towards chief executive Simon Arora’s goal of expanding until there are 950 UK stores in its portfolio.
It is yet to specify exactly where the new stores will be opening but they’re expected to create 1,600 new jobs in the UK and Germany.
It also plans to promote 202 existing members of staff to deputy and store manager positions.
Company profits rose by 17 per cent to £3,486.3million up from £2,976.3million the year before.
Mr Arora says that B&M has become the place for shoppers who “need a bargain or just enjoy one” and that its seasonal products, such as the sell-out hot tub, helped boost sales.
He said: “B&M has again delivered strong results against the challenging backdrop of continued structural change in our industry, rising costs and uncertain times for consumers.
“I’m confident B&M is well-positioned to deliver further strong progress in the current year and beyond,” he added.
Which high street retailers have gone bust so far?
A NUMBER of familiar high street names have hit the rocks in recent years, such as:
The collapse of Toys R Us last year has paved the way for stores like B&M to take the top spot as toy stores.
But it’s been a troubling time for retailers who are struggling with rising rents and a move to online shopping.
Almost 20,000 high street jobs have been axed or put at risk since Christmas, research by financial services firm Altus Group has found.
HMV, Patisserie Valerie, Oddbins, Poundworld and Maplin are among the retailers that have collapsed over the past 18 months.
Meanwhile distressed retailers including Mothercare, Carpetright, New Look and Homebase used company voluntary arrangements (CVAs) – an insolvency procedure which allows struggling firms to close unprofitable stores.
Several more retailers – including Asda, House of Fraser and Evans Cycles – have already, or are expected to, cut jobs in 2019.
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