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B&Q Like-For-Like Sales Down 3% in Full-Year Results

B&Q Penrith 725 x 500.jpg

Kingfisher UK & Ireland sales were up 1.1% (-0.8% LFL) to £5,061 million within the context of a weak consumer backdrop.

Gross margin increased by 20 basis points and costs were tightly managed resulting in retail profit up 6.0% to £399 million.

B&Q total sales declined by 2.8% to £3,390 million. LFL sales declined by 3.0%.

The discontinuation of installations impacted LFL by c. 2% in H2 and in c. 1% the full year. LFL sales of weather-related categories increased by 1.8% while sales of non-weather-related categories, including showroom, were down 4.4%.

B&Q’s total online sales continued to make good progress with sales growing by 9% (including click & collect up 42% and mobile up 44%) and now represent 5% of total sales. 

Source : Insight DIY & Kingfisher PLC

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20 March 2019

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