B&M ousts finance chief as it warns again on profits after £7m accounts error

Discount retailer looks for successor for Mike Schmidt, who is stepping down as chief financial officer

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The discount retailer B&M has ousted its finance chief after reporting a 7m accounts blunder that will cut its annual earnings - its second profit warning within two weeks.

The company told investors it looking for a successor to Mike Schmidt, who is stepping down as chief financial officer, after the accounting error.