Kingfisher sales boosted by warmer weather
Kingfisher has reported a 1.9% increase in like-for-like sales at its B&Q DIY chain in its second quarter as the retailer benefited from the warmer weather in the period. On total basis, sales were up by 1.7%.
In the 10 weeks to 13 July 2013, sales of outdoor and seasonal products at B&Q jumped 20% and accounted for almost 40% of the retailer’s sales.
At Kingfisher’s Screwfix chain, total sales climbed by 17.8% with like-for-like sales increasing by 6.6%.
The results helped Kingfisher to grow its total group sales by 5.2% in the period while like-for-like sales rose by 2.5%. This was a marked improvement on the previous quarter when group like-for-like sales fell by 4.2%
Ian Cheshire, Kingfisher's group chief executive, said: "Following a tough Q1, I am pleased to report that we have been able to capitalise on the better weather conditions in Q2, particularly in the UK, which has helped us to deliver growth. However, underlying consumer confidence remains weak in our major markets, so we continue to focus hard on our self-help margin and cost initiatives. We are on track to deliver a first half in line with our expectations.”
At Kingfisher’s business in France, where it owns over 200 stores under the Castorama and Brico Dépôt fascias, like-for like sales rose by 1.1%.
Kingfisher said its self-help plan, 'Creating the Leader', was continuing to make good progress. This included the acquisition of 15 stores in Romania in the quarter, which was the group’s first new country entry in seven years.
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