Meanwhile, the company said boss Alex Russo will retire on April 30 after two-and-a-half years at the helm, and said it is looking for a new chief executive.
B&M chairwoman Tiffany Hall said Mr Russo “has increased our store footprint in both the UK and France and driven a relentless focus on high operational standards and low costs”.
B&M has issued a profit warning after trading was hit by an “uncertain economic outlook”, as it also said its chief executive will retire in the coming months.
The lower earnings forecast “reflects the current trading performance of the business, an uncertain economic outlook and the potential impact of exchange rate volatility on the valuation of our stock”, it said.
While more recent surveys have pointed to an improvement in footfall in January, particularly for lower-cost retailers like B&M, the latest announcement follows a slew of job cuts across some of the country’s biggest names, including Sainsbury’s and Tesco.
