Partly Cloudy

Partly Cloudy

max temp: 14°C

min temp: 10°C

ESTD 1874 Search

UK: Kingfisher warns that B&Q sales remain under pressure

12:16 29 November 2012

B&Q owner Kingfisher has reported a further fall in like-for-like sales at its B&Q arm, although the decline was lower than that seen during the weather-hit first half of the year

B&Q owner Kingfisher has reported a further fall in like-for-like sales at its B&Q arm, although the decline was lower than that seen during the weather-hit first half of the year

B&Q owner Kingfisher today reported an improved sales trend at the DIY chain but warned that the weak consumer backdrop continued to hit the business.

shares

Like-for-like sales at B&Q in UK and Ireland fell 4% in the 13 weeks to October 27, an improvement on the 6% slide recorded during the weather-hit first half of the year.

The improvement was driven by higher sales of home improvement products as more customers cook and entertain at home with sales of built-in fridge freezers up 13% and built-in microwaves ahead 57%.

B&Q saw a 1.7% rise in retail profits to £45million, while the wider Kingfisher group, which also owns tools supplier Screwfix in the UK and the Castorama and Brico Depot chains in France, recorded broadly flat retail profits of £25m.

Screwfix, which opend 12 new outlets during the third quarter, grew total sales by 11% to £149m, despite the continued challenging trading conditions in the smaller tradesman market, with retail profit rising 20% to £14m.

Total group sales were up 0.8% at £2.7billion, as like-for-like sales fell 2.8% in France and by 0.8% across its other international stores, which include outlets in China and Russia.

The group has been driving sales of showroom products such as kitchens and bathrooms in an effort to help boost trade.

However, Freddie George, retail research analyst at Seymour Pierce, said the like-for-like sales figures were worse than expected and implied “a markedly weakening trend through the period”.

shares

0 comments

Frank Brumby, eastern region chairman of R3.

The East of England’s struggling companies should be given some breathing space to help them come up with a recovery plan, an insolvency body argues.

Morrisons saw like-for-like supermarket sales grow by 0.7% during the first quarter of this year.
Photo: Sean Dempsey/PA

Supermarket chain Morrisons today reported a 0.7% increase in like-for-like sales during the first quarter of this year as its turnaround under chief exectuvie David Potts continued.

Gavin Patterson,  BT chief executive.

BT has unveiled a £6billion programme to upgrade its network in a move to extend ultrafast broadband to at least 10million homes and businesses, and lay fibre optic lines to around two million premises across the UK.

Eliza Jones of Chosan, left, at her stand.

A Colchester entrepreneur has taken inspiration from her African heritage to launch a range of organic drinks.

Shell has seen profits plummet.

Shell’s first-quarter profits plummeted 58% to 1.6 billion US dollars (£1.1 billion) as the falling oil price continues to hammer the sector.

Most read

Great Days Out

cover

Click here to view
the Great Days Out
supplement

View

Most commented

HOT JOBS

Show Job Lists

Streetlife

Newsletter Sign Up

Great British Life

Great British Life
MyDate24 MyPhotos24