Budget retailer B&M’s shares sink as UK sales growth fizzles

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shares in B&M tumbled by more than a 10th on Thursday after the discount retailer revealed its UK sales dipped over the final quarter, as its boss insisted the business was “undistracted” by economic news. The business remains undistracted by the current economic headlines Alex Russo, B&M's chief executive However, when compared like-for-like, which strips out the impact of sales from new store openings, it marked a 2.8% decline. Alex Russo, B&M’s chief executive, said: “The business remains undistracted by the current economic headlines. “Our strategy is clear – we are an everyday low-price discounter with a laser focus in keeping excellence in retail standards and our costs the lowest.” Adam Vettese, market analyst at investment platform eToro, said: “B&M seems to have served investors cold turkey this morning with shares sinking 10% following their Christmas trading update.