Kingfisher UK & Ireland sales up 6% in Q2 trading

Kingfisher has published its Q2 trading update to 31 July 2018.

UK & IRELAND

- Total sales +6.0%.
- LFL +4.2% reflecting improved performances at B&Q and Screwfix within the context of a continuing weak UK consumer backdrop

B&Q UK & Ireland sales +3.9%. LFL +3.6% driven by strong performance of weather-related categories benefiting LFL by c.+7% (impact on LFL in Q1 18/19 c.-6%, H1 18/19 c.+1%)

Screwfix sales +11.8%. LFL +5.5% with 12 new outlets opened during Q2

FRANCE

- Total sales -0.7% (LFL -1.0%).
- Sales for the home improvement market (Banque de France data(5) ) were up c.1% in Q2

Castorama sales -4.1%. LFL -3.8% reflecting continued softer footfall and the impact of transformation-related activity. LFL of weather-related categories was flat (impact on LFL in Q1 18/19 c.-4%, H1 18/19 c.-2%)

Brico Dépôt sales +3.7%. LFL +2.6% reflecting good growth from the new unified ranges, which continue to re-energise the Brico Dépôt offer, supported by investment in marketing

OTHER INTERNATIONAL

- Total sales in Poland +2.5%. LFL +1.3% against a strong comparative (Q2 17/18: +4.0%)

Véronique Laury, Chief Executive Officer, said: 

"We started our transformation two and a half years ago and are on track to deliver our strategic milestones for the third year in a row.

"In Q2, I’m pleased that we grew our sales after the exceptionally harsh weather conditions in Q1.

"In B&Q, Screwfix and Brico Dépôt France we delivered good sales growth. However, the performance of Castorama France has been more difficult and as a result we have put additional actions in place to support our full year performance in France with the benefits expected to come through in H2.

“We look forward to providing a more detailed update at our H1 results in September.”

View the full publication here.

Source : Insight DIY and Kingfisher

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