Kingfisher achieves nearly one per cent growth

The Kingfisher Group increased sales in the first ten weeks of its second quarter up to 12 July 2014 by 0.8 per cent compared with the same period in the previous year, although sales adjusted for retail area and currency were down by 1.8 per cent. In France, sales fell by 1.4 per cent, with like-for-like sales down by 2.2 per cent.
Sales grew by 0.7 per cent in Great Britain and Ireland, but like-for-like sales here too declined by 1.3 per cent compared with the same period a year ago. The development of the distribution channels showed considerable disparity: sales by B&Q stores grew by 2.5 per cent, but like-for-like sales were down 3.5 per cent, while Screwfix reported growth of 22.6 per cent (like-for-like: 11.8 per cent). In the Polish market, Kingfisher’s sales fell 3.4 per cent (like-for-like: down 3.5 per cent). Growth of 15.7 per cent (12.0 per cent on a comparable store area) was recorded in Russia. The trend in China was negative, with sales declining by 9.2 per cent (9.3 per cent fall in like-for-like sales).