Kingfisher ends first half-year with a slight drop in sales

The British Kingfisher Group ended the first six months (ended 31 July 2020) of fiscal 2020/2021 with a small drop in sales. Overall sales fell by 1.3 per cent to GBP 5.921 bn (EUR 6.456 bn). Adjusted for currency fluctuations, the decline was 1.1 per cent, while like-for-like sales fell by 1.6 per cent. The trend in France was primarily responsible for the downturn.
In its home market in Great Britain and in Ireland, however, the DIY retailer increased sales by 3.7 per cent (like-for-like: 2.4 per cent) to GBP 2.753 bn (EUR 3.002 bn). The growth rate for both distribution channels, B&Q and Screwfix, was identical. This was although Screwfix recorded a slight decline of 1.1 per cent in like-for-like sales for the first time, while B&Q grew its same-store sales by 4.1 per cent.
Sales in France declined by 6.1 per cent (-7.0 per cent with adjustment for currency fluctuations, -5.9 per cent like-for-like) to GBP 2.028 bn (EUR 2.211 bn). Here Covid-19 caused a dramatic collapse of 41.5 per cent in same-store sales in the first quarter and a frantic race to catch up in the second quarter with a like-for-like increase of 27.0 per cent. In a comparison of distribution channels, Castorama performed more poorly at -8.7 per cent (like-for-like -7.4 per cent) than Brico Dépôt at -5.1 per cent (-4.3 per cent).
The group's four other overseas operations painted a mixed picture.
Poland: GBP 783 mio (EUR 854 mio, +3.9 per cent, +6.8 per cent, +3.5 per cent)Spain and Portugal: GBP 138 mio (EUR 150 mio, -21.5 per cent, -22.3 per cent, -22.3 per cent)Romania: GBP 107 mio (EUR 117 mio, +10.9 per cent, +11.7 per cent, +9.2 per cent)Russia: GBP 112 mio (EUR 122 mio, -27.0 per cent, -21.7 per cent, -17.5 per cent)