Kingfisher sales down

Kingfisher has announced sales of £ 10.573 bn, amounting to a decline of 2.4 per cent, for its 2012/2013 financial year (to 2 February 2013). The figure would have shown an increase of 0.5 per cent on the previous year without currency fluctuations. Europe’s biggest DIY retail group recorded sales of £ 4.316 bn in Great Britain and Ireland, a decline of 0.5 per cent. In France volume sales of £ 4.194 bn accumulated a sales deficit of 6.2 per cent – translating into an increase of 0.3 per cent in constant currency, however. The group experienced sales growth only through its other international business activities, which saw expansion of 2.0 per cent to £ 2.063 bn. Nevertheless, in like-for-like (and constant-currency) terms there were declines right across the board: of 5.2 per cent in Britain and Ireland, 1.6 per cent in France and 0.7 per cent in the other countries; the overall like-for-like result was 2.9 per cent down. Business did not necessarily do better in the fourth quarter either. Overall growth of 1.5 per cent to £ 2.390 bn was down to more favourable exchange rates, since a figure of minus 1.0 per cent resulted at constant exchange rates. Sales losses both in like-for-like terms and in constant currency were revealed almost across the board: 5.8 per cent in Britain and Ireland, and 2.4 per cent in France. Only in the group’s international business is there a plus figure of 0.3 per cent. This originates principally from Russia, where sales overall and like-for-like rose by 20.4 per cent to £ 102 mio. Even in China, actually its problem child, the British company recorded sales of £ 110 mio, amounting to 3.9 per cent more altogether and up 5.0 per cent like-for-like. Nominal growth was reported in Poland (0.2 per cent to £ 228 mio) and Spain (2.7 per cent to £ 46 mio). In like-for-like terms, however, sales here fell by 4.3 per cent and 10.6 per cent respectively.