Kingfisher catches up in second quarter

The British Kingfisher Group completed the second quarter of its financial year (ended 7 July 2012) with total sales up by 3.7 per cent on the same period last year. However, Europe’s leading retailer in the DIY market recorded sales down by 0.4 per cent on a like-for-like basis. The group’s business in France is mainly responsible for this decrease, with total sales down by 0.6 per cent and by 2.3 per cent like-for-like. On the other hand, the group’s total sales in Britain and Ireland were 5.0 per cent up, and +1.1 per cent like-for-like. The stores in Poland announced total sales up by 1.5 per cent, though down by 4.4 per cent in like-for-like terms. High double-digit growth figures – 48.5 per cent, and 19.0 per cent like-for-like – were achieved by Kingfisher’s Castorama stores in Russia. Total sales in Spain were 5.6 per cent up, though down by 3.8 per cent like-for-like. Sales in China, where one more B&Q store was closed down, are continuing to fall, most recently by 4.7 per cent (-3.7 per cent like-for-like). For the entire first half year there remained an increase of just 1.0 per cent altogether. All the sales regions were in deficit in like-for-like terms.