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B&Q LFL sales up 5.6%

B&Q - Chris Warham - shutterstock_242222707 725 x 500

Kingfisher has reported on second quarter trading, covering the three months ended 31st July.

Total sales in the UK & Ireland increased by 5.0%, with an increase in LFL sales of 7.2%.

B&Q UK & Ireland sales increased by 0.3% to £1,046m, despite store closures. LFL sales were up 5.6%, including c.2% benefit from sales transference associated with store closures.

Seasonal LFL sales increased by 9.6%, while non-seasonal LFL sales, including showroom, were up by 3.4%.

See the full publication here.

Screwfix summary available here

Véronique Laury, Kingfisher Chief Executive Officer, said:

“We have delivered another solid sales performance in Q2 driven by the UK and Poland. In the UK, the EU referendum result has created uncertainty for the economic outlook, although there has been no clear evidence of an impact on demand so far on our businesses. In France, widespread industrial action and exceptionally wet weather created a more challenging environment, after a more encouraging Q1. We remain cautious on the short-term outlook.

“In the meantime, we continue to focus on our ONE Kingfisher plan, based on always putting customer needs first. We look forward to updating you on our early progress at our half year results next month.”

Source : Kingfisher 

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18 August 2016

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