Kingfisher reports sales dip at B&Q
Kingfisher has reported that like-for-like sales fell by 1.9% in its second quarter after like-for-likes dropped by 4.7% at its B&Q stores in the UK and Ireland.
In the three months to 31 July, like-for-like sales also fell at its French Castorama and Brico Dépôt chains.
Kingfisher’s Screwfix chain in the UK fared much better with a like-for-like sales increase of 10.8%.
Véronique Laury, Kingfisher chief executive, said: “Q2 has broadly followed a similar course to Q1 although B&Q’s performance was impacted by seasonal swings across Q1 and Q2. We have also continued to experience some disruption across the businesses, although on an improving trend.
“Availability of this year’s unified and unique product is now approaching normal levels. We continue to adapt new processes as our transformation progresses, which will support the significant amount of change planned for H2.”
The company said Screwfix’s performance was driven by its digital capability, new and extended specialist ranges, and new outlets.
Looking at the wider business, Laury said the company already had plans in place to support its second half performance as it knew this year would be “challenging”. She added: “We remain on track to deliver our Year Two strategic milestones, and look forward to updating you on our wider progress in more detail at our H1 results.”
