Saturday 17 March 2018

Sales at B&Q down almost 5pc as poor weather impacts performance

Ellie Donnelly

Ellie Donnelly

Sales at the B&Q division of Kingfisher were down almost 5pc on a like-for-like basis in the three months to 31 July compared to the same period last year.

Poorer weather this year contributed to the decline at the home improvement and garden retailer, according to the DIY retailer’s second quarter trading update.

Overall sales at Kingfisher, whose divisions include Screwfix in the UK and Brico Dépôt in France, declined by 1.9pc to £3.1bn on a like-for-like basis in the three months to 31 July when compared with 31 July 2016.

According to Davy analysts, the performance was "modestly worse" than Davy’s own expectation.

In Ireland and the UK total sales declined by 1pc like-for-like reflecting the continued strong Screwfix performance and the modest price inflation, however gains from the performance of Screwfix and the price inflation were offset by the decline in B&Q sales.

In France the company, which sells an average of three million paint rollers each year, continued to record weaker sales, with both its French entities - Brico Dépôt and Castorama – recording year-on-year declines in sales of 5.1pc and 2.8pc on a like-for-like basis respectively.

"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," Véronique Laury, CEO of Kingfisher, said.

The company also advised that it continued to remain cautious on the second half outlook for both the UK and France.

However Ms Laury went on to say that the company remains on track to deliver its Year 2 strategic milestones.

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