1139 GMT - The lack of a successor for B&M European Value Retail's CEO, Alex Russo, and the two-month lead time until he steps down imply a different story than the announcement of Russo's retirement, AJ Bell's Russ Mould says. As a value retailer, B&M's sales should be thriving in the current backdrop where customers are looking for cheaper options, but the company has been dealing with a growth slowdown for multiple consecutive quarters, Mould says. "It suggests that Russo was too aggressive with earnings guidance and committed the cardinal sin of over-promising and under-delivering, and/or marketing tactics haven't been good enough," he adds. Shares are down 9.4%, and down almost 25% since the start of the year. (michael.susin@wsj.com)
(END) Dow Jones Newswires
February 24, 2025 06:39 ET (11:39 GMT)
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