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Kingfisher sales rise in Q1 despite mixed results in France

By Frank Prenesti

Date: Wednesday 15 May 2019

Kingfisher sales rise in Q1 despite mixed results in France

(Sharecast News) - DIY chain owner Kingfisher on Monday maintained full year guidance as it reported a 0.8% rise in first quarter sales on a like-for-like basis.
Total sales came in at £2.8bn, with contributions in the UK and Eastern Europe offset by a mixed performance in France, the company said.

In the UK and Ireland, sales at B&Q rose 2.8% reflecting a stronger weather-related performance, partly offset by a 2% impact from discontinuation of showroom installation services. Screwfix sales were up 4.5%.

In France total sales fell 3.7% on a like-for-like basis. Castorama sales were down 2.4% reflecting a positive start to the year, offset by transformation-related activity.

Brico Dépôt sales declined by 5.1% "largely reflecting the proactive reduction of low margin special promotional activity" Kingfisher said.

Total sales were up 6.2% reflecting the continued good performance of unified & unique ranges, and despite the loss of one further Sunday of trading per month.

In Romania sales soared by 24.6% driven by a strong performance of unified and unique ranges, the company said, adding that the integration of Praktiker was progressing well with all stores now rebranded as Brico Dépôt.

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