Stay updated with breaking news from Amisha Chohan. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
While other retailers have been left floundering during lockdowns, B&M saw its annual pre-tax profit more than double to £525.4m, with the group opening over 40 new stores over the period.
Pent-up demand "Clearly many people will be struggling financially as a result of the pandemic, but cashflows will have improved considerably for many other households across the U.K. given they have been forced to spend less on travel, commuting and going out, and many will have used this opportunity to build up their savings and pay down their debts," Amisha Chohan, equity research analyst at the investment management firm Quilter Cheviot, said. The household savings ratio in Britain, which is the percentage of cash people save rather than spend, increased from 9.6% in the first quarter to ...