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flag B&M warns of 28% profit drop due to lower sales, higher costs, and a new turnaround plan.

flag Budget retailer B&M has issued a profit warning, forecasting a 28% drop in half-year earnings to £198 million and full-year profits between £510 million and £560 million—up to an 18% decline from the prior year—due to a 1.1% drop in UK like-for-like sales, rising wage costs, and a £14 million packaging tax. flag The company, operating 786 UK stores and 140 in France, is launching a turnaround plan including price cuts on key items, flexible promotions, simplified product ranges, and improved availability. flag New CEO Tjeerd Jegen cited operational weaknesses but said recent improvements suggest recovery, though full effects may take 12 to 18 months, with final sales expected to range from a low single-digit decline to increase.

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