Kingfisher like-for-likes boosted by Screwfix performance
Kingfisher, the owner of B&Q and Screwfix, grew its UK third quarter like-for-like sales by 1.5% following a strong performance at Screwfix.
In the three months to 31 October, like-for-like sales declined by 1.9% at B&Q UK & Ireland but climbed by 10.2% at Screwfix.
Kingfisher said the increase at Screwfix was driven by its digital capability, new and extended specialist ranges and new outlets.
Like-for-like sales across the group were down 0.5% reflecting continued weak sales in France. Like-for-like sales at its French business, which includes the Castorama and Brico Dépôt chains, fell by 4.1%
Meanwhile, like-for-like sales in Poland were up 6% in the period as the company benefited from a “supportive” market.
Véronique Laury, Kingfisher chief executive, said: "Q3 has followed a similar course to the first half. We have seen strong growth at Screwfix and Poland offset by continued weak sales in France, alongside some business disruption from our One Kingfisher plan, principally reflecting product availability and clearance. We continue to act on the causes of this disruption, which we are confident will ease.”
Kingfisher said the group remains on track to deliver its full year strategic milestones and that it remains “comfortable” with its full year profit expectations.
Laury added: "Early customer reaction to our new ranges continues to be encouraging. We recognise that the transformation plan involves a lot of change for our colleagues and appreciate their continued hard work and expertise."
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