B&M Cuts Target Again as Turnaround Costs Weigh on Retailer

B&M European Value Retail SA cut its guidance as the cost of its turnaround plan, including clearing inventory, weighs on profit.

The discount retailer, which sells everything from furniture to toys and sweets, now expects adjusted earnings before interest, taxes, depreciation and amortization of between of £440 million ($591 million) and £475 million this fiscal year, compared with a previous target of £470 million to £520 million.