Tuesday 22 May 2018

UK weather hits B&Q owner's sales

Kingfisher owns the retailer B&Q
Kingfisher owns the retailer B&Q
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 July 31 compared to the same period last year.

Poorer weather this year in the UK 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 July 31 when compared with 2016.

The DIY giant sells three million paint rollers each year.

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

In Ireland and the UK total sales declined by 1pc on a like-for-like basis 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 continued to record weaker sales, with both of 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.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business