God. Is it just me or does anyone else get a little too thrilled about discount store openings? Last weekend I dragged my reluctant boyfriend through our local B&M looking for garden lights, and I swear he aged 5 years in there. His response: "If you make me look at one more decorative gnome, I'm walking home."
But here's teh thing - B&M is absolutely crushing it while other retailers are dropping like flies. They've just announced they're opening FORTY-FIVE new stores across the UK this year. That's not a typo. 45 actual brick-and-mortar shops in 2025 when everyone else is closing doors faster than I close dating apps after bad first dates.
Where the heck are these new bargain palaces appearing?
So far, we know about 11 locations. The rest are still under wraps (probably because they're still finalizing those sweet, sweet lease deals). I spent way too long this morning scrolling through their website trying to figure out if one's coming near my parents in Norfolk. Turns out - yes! Cromer's getting one on May 23rd.
I feel slightly ridiculous admitting how happy this makes me.
The countdown to cheap candles begins...
If you're marking your calendar (no judgment, I've already set a reminder), here are the confirmed openings:
• Shepshed, Leicestershire - April 26 (That's next week!)
• New Rossington, Doncaster - May 2
• Louth, Lincolnshire - May 16
• Bishop Auckland, County Durham - May 17
• Killamarsh, Derbyshire - May 21
• Cromer, Norfolk - May 23
• Tunbridge Wells, Kent - May 24
• Berwick-upon-Tweed, Northumberland - May 30
• Portishead, Somerset - May 30
• Carlisle, Cumbria - May 30 (busy day!)
• Telford, Shropshire - May 31
Back in 2018, I interviewed a retail analyst who bet me $20 that discount stores would be dead by 2023. Wonder if he's still taking bets...
Thriving while others crash and burn
Listen. The contrast between B&M's expansion and what's happening elsewhere in retail is wild. They opened 45 stores LAST year too. Meanwhile, the home improvement sector looks like a ghost at a family reunion - awkward and unwelcome.
Homebase went into administration in November (poor Homebase). They got partially rescued by that billionaire who owns The Range and Wilko, but it was messy.
What's with everyone else falling apart?
B&Q's parent company saw profits nosedive over 25% to £568 million. Which, okay, is still a lot of money, but that's a massive drop.
Everest and Safestyle? Gone. Collapsed. Kaput. Left customers hanging with half-finished orders adn deposits they'll probably never see again.
Wickes reported a 31% profit plunge despite stable revenues (translation: they're selling stuff but making way less money doing it).
Even Carpetright got swallowed up by Tapi, which saved 300 jobs but shut down 200 stores. I actually went to one of their closing down sales in January and spent $4K on new carpets for my upstairs. The salesman literally had his CV open on his phone while measuring my stairs.
So... why is B&M different?
My theory? They're selling what people actually need right now - affordable stuff that makes life slightly less depressing. I bought a plant there last month for £3.50 that would've cost £15 elsewhere. The pot was slightly chipped but who cares?
The housing market's about as lively as my grandmother's bridge club, so nobody's doing major renovations. But we still want nice candles and cheap picture frames.
If you're curious about whether one of these new stores is coming your way, keep checking their website. Or do what I do and obsessively follow local Facebook groups where people post about this stuff like it's breaking news.
And yes, I'll probably be at the Cromer opening. Someone has to document this historic moment.
Frequently Asked Questions
What is a budget deficit?
A budget deficit occurs when a government's expenditures exceed its revenues over a specific period, usually a fiscal year. This can lead to increased borrowing and national debt if not addressed through spending cuts or revenue increases.
How can I start saving for retirement?
To start saving for retirement, begin by establishing clear retirement goals and determining how much you need to save. Contribute to employer-sponsored retirement plans, such as a 401(k), and consider opening an Individual Retirement Account (IRA). Regular contributions and taking advantage of compounding interest can significantly boost your retirement savings over time.
What is the role of central banks in the economy?
Central banks manage a nation's currency, money supply, and interest rates. They implement monetary policy to control inflation, stabilize the currency, and foster economic growth. They also serve as lenders of last resort to the banking system during financial crises.
What are the benefits of having an emergency fund?
An emergency fund provides financial security by offering a safety net for unexpected expenses, such as medical emergencies or job loss. It helps prevent debt accumulation, reduces stress, and allows for better financial planning, ensuring that individuals can navigate unforeseen circumstances without significant hardship.
What are the risks associated with investing in the stock market?
Investing in the stock market involves several risks, including market volatility, economic downturns, and company-specific factors that can lead to losses. Investors may also face liquidity risk, where they cannot sell an investment quickly without incurring a loss. Diversification and thorough research can help mitigate these risks.
What is the difference between saving and investing?
Saving typically involves setting aside money in a secure account for short-term needs or emergencies, while investing involves using money to purchase assets like stocks or real estate with the expectation of generating a return over the long term. Investing carries higher risks but offers the potential for greater rewards.
What is the importance of financial literacy?
Financial literacy is essential for making informed decisions about budgeting, saving, investing, and managing debt. It empowers individuals to understand financial concepts, evaluate risks, and navigate complex financial products, leading to better financial stability and long-term wealth building.
Statistics
- A survey by the American Psychological Association found that 72% of Americans reported feeling stressed about money at some point in the past month.
- In 2020, the average retirement savings for Americans aged 60 to 69 was approximately $195,000, according to Fidelity.
- As of 2021, the median household income in the U.S. was approximately $67,521, according to the U.S. Census Bureau.
- According to the Bureau of Labor Statistics, the average American spends about $1,500 per year on coffee.
- As of 2021, the average student loan debt for recent graduates was approximately $30,000, according to the Federal Reserve.
- According to the Federal Reserve, approximately 39% of Americans do not have enough savings to cover a $400 emergency expense.
- As of 2021, the average American household had approximately $8,400 in credit card debt, according to Experian.
- Research by the National Bureau of Economic Research found that individuals who receive financial education are 25% more likely to save than those who do not.
External Links
How To
How To Create a Personal Budget That Works
Creating a personal budget involves several key steps. First, assess your income by totaling all sources of revenue, including salary, bonuses, and side hustles. Next, categorize your expenses into fixed (rent, utilities) and variable (groceries, entertainment). Track your spending for at least a month to gather accurate data. Once you have this information, allocate a specific amount for each category while ensuring your total expenses do not exceed your income. Remember to include savings as a line item in your budget. Review and adjust your budget regularly to reflect changes in income or expenses, which will help you stay on track financially.
Did you miss our previous article...
https://hellofaread.com/money/ms-giving-staff-a-muchneeded-breather-stores-closing-easter-sunday
PoliticsRoyaltySoap OperaGamingMoneyPrivacy PolicyTerms And Conditions
