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In the first quarter of its fiscal year (ended 30 April), the British Kingfisher Group unveiled a nominal sales increase of 5.0 per cent. In constant currency, however, the quarterly figures reveal a drop of 0.9 per cent in sales, with like-for-like sales down by 0.6 per cent. Total sales amounted to GBP 2.860 bn.
In Great Britain, the closures of B&Q stores had an impact, with sales declining by 4.4 per cent. Like-for-like sales lagged behind the level of the previous year by 0.5 per cent. On the other hand, Screwfix sales were up by 20.3 per cent (like-for-like 12.6 per cent).
The two French distribution lines also delivered negative figures: Castorama sales were down by 5.0 per cent in constant currency terms, while Brico Dépôt sales fell by 6.2 per cent.
Of its other overseas markets, only Poland brought a measure of comfort. Here sales rose by 5.7 per cent (constant currency), like-for-like by 3.5 per cent. The Castorama stores in Russia saw their sales decline in constant currency terms by 4.1 per cent and like-for-like by 7.8 per cent. A 2.9 per cent drop in sales was seen in Spain.
One reason cited by CEO Véronique Laury was "some business disruption given the volume of change, as we clear old ranges, remerchandise new ranges and continue the roll out of our unified IT platform". But she remains confident: "However, we are on track to deliver our Year 2 strategic milestones. Early customer reaction to our new ranges is encouraging, especially in France where our new unique bathroom ranges are launching first."
In Great Britain, the closures of B&Q stores had an impact, with sales declining by 4.4 per cent. Like-for-like sales lagged behind the level of the previous year by 0.5 per cent. On the other hand, Screwfix sales were up by 20.3 per cent (like-for-like 12.6 per cent).
The two French distribution lines also delivered negative figures: Castorama sales were down by 5.0 per cent in constant currency terms, while Brico Dépôt sales fell by 6.2 per cent.
Of its other overseas markets, only Poland brought a measure of comfort. Here sales rose by 5.7 per cent (constant currency), like-for-like by 3.5 per cent. The Castorama stores in Russia saw their sales decline in constant currency terms by 4.1 per cent and like-for-like by 7.8 per cent. A 2.9 per cent drop in sales was seen in Spain.
One reason cited by CEO Véronique Laury was "some business disruption given the volume of change, as we clear old ranges, remerchandise new ranges and continue the roll out of our unified IT platform". But she remains confident: "However, we are on track to deliver our Year 2 strategic milestones. Early customer reaction to our new ranges is encouraging, especially in France where our new unique bathroom ranges are launching first."
