B&Q owner Kingfisher sees sales rise

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B&Q owner Kingfisher has seen an increase of 1.6% like-for-like sales during the second quarter, helped by the recent warm weather.

The company stated that same store sales B&Q in the UK and Ireland rose 3.6% in the three months ended July 31,.

Comparable trade at Screwfix, which sells to professionals, increased by 5.5%.

Kingfisher chief executive VĂ©ronique Laury said: “in the second quarter, I am pleased that we have increased our sales after the exceptionally harsh weather conditions in the first quarter.”

In the first quarter, sales had been affected by the humidity and snow conditions across Europe, and had fallen by 4%.

She added: “B&Q, Screwfix and Brico Depot in France, we have delivered good sales growth.

“However, the performance of Castorama France has been more difficult, and as a result, we put more actions in place to support the whole of the year performance in France, with the benefits expected to come through in [the second half of the financial year.”

Comparable sales were down 1% in France during the quarter.

“Abnormally hot summer, lifting sales at kingfisher in the second quarter, but we still see continued weakness in France is a drag on the group’s performance,” said Neil Wilson, chief analyst at Markets.com.

“After the Beast of the East has caught a nasty piece of [the first quarter of] sales, it is a return to growth. Sometimes, retailers can blame it on the weather, and in the first half, Kingfisher has had both the good and the bad.”

He added: “However, France is still a weakness, as the turnover, there is a 1% decrease from the weakening of the attendance and of the transformation of the business with Castorama hit sales.”