Kingfisher boosted by buoyant UK sales
Kingfisher, the owner of B&Q and Screwfix, increased its like-for-like sales by 2.6% in its third quarter as its performance was boosted by 4.6% like-for-like sales growth in the UK and Ireland.
In the 13 weeks ending 31 October, B&Q’s total sales at constant currency rose by 1.2% to £931 million while like-for-like sales grew by 2.4%.
Meanwhile, Screwfix's total sales were up 23.4% to £278 million driven by the brand’s omnichannel trade sales capability, new and extended trade ranges and 13 new outlets. On a like-for-like basis sales rose by 13.3%.
Like-for-like sales in France, where Kingfisher operates the Castorama and Brico Dépôt chains, edged up 0.1% reflecting a continuing soft market.
Véronique Laury, Kingfisher chief executive, said: “We continue to make good progress with our 'ONE' Kingfisher plan. The unified IT system, a key enabler of this journey, continues to progress well. In addition we have secured a further five agreements on the B&Q stores already planned for closure, taking the total to 31.
“I am very encouraged by development work on the first wave of the unified 'core essential' ranges, which will land in stores from next year. We now look forward to updating you on the detail of our long term strategy in early 2016."
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