B&M Retail is hoping to have opened 30 new B&M Bargains stores by the end of the year including one within the M25.
The Liverpool-based discounter has 235 stores across the UK, but the estate only currently stretches as far south as Hemel Hempstead, in Hertfordshire. It has opened eight stores since January and identified most of the remaining 22 it would like to open.
Director Simon Arora said he expected B&M Retail's turnover to "comfortably exceed" £700m this year. Last year, the discounter recorded a turnover of £607m, placing it third on The Grocer's Top 50 ranking of independent grocery retailers.
"With high petrol prices we're well placed to continue to grow," Arora said. "The majority of our shoppers are pedestrians or come by public transport. We haven't followed the model of massive supermarkets."
Arora added he would be "perfectly happy" opening another 30 stores a year for the next few years.
"You have to be very self-disciplined. We're more focused on securing affordable long-term sites rather than being attracted by landlord incentives and we're very careful not to overpay for our sites."
He also revealed that B&M Retail was interested in taking on sites from Alworths, which collapsed last week. "When the sites become available, we're very interested in landlords approaching us," he said.
"I think it's increasingly difficult to be an independent retailer and have the economies of scale that large retailers like ourselves have. It's near impossible to secure the product at the right price."
B&M Retail recently strengthened its board with the appointment of Mike Benson to the newly created role of distribution director. It also appointed Carl Allen as operations director. The former regional controller at Iceland replaced Adam Colledge, who died last year from cancer.
"I'm really proud of the way the whole of my retail operations team performed last year," Arora said.
The Liverpool-based discounter has 235 stores across the UK, but the estate only currently stretches as far south as Hemel Hempstead, in Hertfordshire. It has opened eight stores since January and identified most of the remaining 22 it would like to open.
Director Simon Arora said he expected B&M Retail's turnover to "comfortably exceed" £700m this year. Last year, the discounter recorded a turnover of £607m, placing it third on The Grocer's Top 50 ranking of independent grocery retailers.
"With high petrol prices we're well placed to continue to grow," Arora said. "The majority of our shoppers are pedestrians or come by public transport. We haven't followed the model of massive supermarkets."
Arora added he would be "perfectly happy" opening another 30 stores a year for the next few years.
"You have to be very self-disciplined. We're more focused on securing affordable long-term sites rather than being attracted by landlord incentives and we're very careful not to overpay for our sites."
He also revealed that B&M Retail was interested in taking on sites from Alworths, which collapsed last week. "When the sites become available, we're very interested in landlords approaching us," he said.
"I think it's increasingly difficult to be an independent retailer and have the economies of scale that large retailers like ourselves have. It's near impossible to secure the product at the right price."
B&M Retail recently strengthened its board with the appointment of Mike Benson to the newly created role of distribution director. It also appointed Carl Allen as operations director. The former regional controller at Iceland replaced Adam Colledge, who died last year from cancer.
"I'm really proud of the way the whole of my retail operations team performed last year," Arora said.
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