Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:
Higher customer spend leads to B&M Retail sales surge
Discount chain B&M European Value Retail (BME.L) has seen booming sales despite the COVID-19 outbreak.
Customers spent more money per visit, driving strong first half revenue growth and a profit uplift, according to a company statement released on Tuesday.
Placing shops in “convenient, easily-accessible, out-of-town locations” has also proven to be good for the business.
For the period from 29 March to 26 September 2020, revenue grew 25.3%, with B&M UK stores generating revenue growth of 29.5%. Trading momentum at B&M UK stores was maintained in the second quarter, with 19.1% like-for-like growth and an exit rate at a similar level, the company said.
The company opened nine new B&M UK