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The Independent UK
The Independent UK
Business
Holly Williams

B&M set to slash prices following profit warning

United Kingdom BM
Shoppers walk by the B&M store in London - (REUTERS)

Budget retailer B&M has issued a profit warning for the year, attributing the downturn to sliding UK sales and soaring operational costs.

The group reported a worse-than-expected 1.1 per cent drop in UK like-for-like sales during its second quarter, projecting half-year underlying earnings to plummet by 28 per cent to approximately £198m.

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