B&M warns of profit fall as inflation squeezes customers and retailers

Discount chain predicts decline in discretionary spending as UK inflation soars to 40-year high

The discount retailer B&M has warned that its profits could drop as customers struggling with the cost of living crisis opt for cheaper products.

It highlighted an uncertain macroeconomic outlook" that could prompt customers to switch to cheaper products, making it difficult to predict the impact of inflation on sales volumes.