3 FTSE 250 growth stocks I'd buy before it's too late

With consumer spending power set to come under increasing pressure in the months ahead, I reckon sales at value chain B&M European Retail(LSE: BME) could be set to rocket.

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The shopping colossus extended December's stunning share price gains with the help of a bubbly trading statement last month, meaning the stock has exploded 20% during the past two months alone. Having said that, I believe B&M still remains undervalued by the market.

Sure, prospective P/E ratios of 20.5 times and 18.5 times may run above the British big-cap average of 15 times, but I reckon this represents decent value for a company the City expects to report double-digit earnings growth in the years ahead. Indeed, expansion of 14% and 10% is chalked-in just for the years to February 2017 and 2018.

B&M saw UK like-for-like revenues leaping 7.2% during the 12 weeks to Christmas Eve, with strong demand for seasonal products and the positive impact of the firm's two new distribution centres helping to boost the top line.

And I expect checkout activity at B&M to continue to soar as its expansion scheme in the UK and Germany (the retailer opened 21 new outlets in the past quarter alone) clicks through the gears.

Fashion star

At face value it could be argued that fashion giant Ted Baker (LSE: TED) may also struggle to print further share price gains at current prices.

For the period to February 2017 the business deals on an earnings multiple of 25.3 times, and a ratio of 22.3 times for next year. But like B&M, City brokers expect Ted Baker's ambitious store opening programme to keep powering the bottom line -- earnings expansion of 12% and 14% is marked in for this year and next.

Ted Baker saw retail sales shoot 17.9% higher during the eight weeks to January 7, with internet orders surging 35% and additional store openings in Asia also helping to drive revenues skywards. And I expect Ted Baker's growing popularity the world over to keep delivering stunning sales growth.

Box clever

Boxbuilder DS Smith (LSE: SMDS) has also furnished the market with stunning financials in recent weeks.

The packaging giant saw revenues jump 21% during May-October, to reach £2.36bn, with organic volumes leaping 2.9% during the period. DS Smith witnessed revenue growth across all regions, underlining the success of its acquisition-led growth strategy, a plan that looks set to keep delivering meaty sales growth. Just last month the business snapped up US-based, bag-in-box plastics specialists Parish Manufacturing in its latest conquest.

And despite the stock reaching fresh record peaks in recent sessions, I believe DS Smith is still a great value growth contender at current prices. A predicted 15% earnings rise in the year to April 2017 creates a P/E ratio of just 14.2 times. And an anticipated 7% advance in the following period produces a mere multiple of 13.3 times.

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Royston Wild has no position in any shares mentioned. The Motley Fool UK has recommended DS Smith and Ted Baker plc. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.