B&Q expected to post solid Q2 figures on Thursday

B&Q owner Kingfisher is expected to post solid second quarter figures on Thursday as the DIY group pushes ahead with its turnaround plans.

Brokers at Jefferies expect B&Q UK and Ireland to report same-store sales up 2.2 per cent in the ten weeks to July 23, compared with a 1.1 per cent fall in the previous quarter and a 0.7 per cent rise a year ago, as the impact of slowing housing transactions is offset by rising wages among shoppers.

Taking stock: Brokers at Jefferies expect B&Q UK and Ireland to report same-store sales up 2.2 per cent in the ten weeks to July 23, compared with a 1.1 per cent fall in the previous quarter

Another strong period is forecast for its building supplies chain Screwfix, where sales are expected to hit 13.3 per cent, helping the group’s overall UK and Ireland division to increase comparable sales to 4.2 per cent, from 1.6 per cent in the previous quarter, and against a 1.3 per cent fall a year ago.

Chief executive Veronique Laury, who took over from Sir Ian Cheshire in December, recently said Kingfisher (down 3.1p to 361.9p) was making ‘good progress’ with its overhaul.

Source: This is money.co.uk

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