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Market exit and focusing: Kingfisher takes a critical look at its involvement in Canada, Belgium and Brazil, as well as with Nomi in Poland
Kingfisher confirmed today that the group is pursuing exit options for its operations in Canada, Belgium and Brazil, and for its Nomi subsidiary in Poland as well. This does not apply to the Castorama business, however. On the contrary, Poland features along with Italy and the Far East among the regions that Kingfisher intends to focus on growing in future.
The group has also given further details about the recently ended financial year 2002/2003. B&Q increased its sales in the UK by 15.9 per cent, or 3.8 per cent in like-for-like terms. The specialist catalogue retailer Screwfix expanded by 31 per cent, with the share of internet sales increasing to 18 per cent. B&Q Direct, which sells around 14 000 articles through the www.diy.com website, increased sales threefold.
Castorama sales in France grew by 2.7 per cent, or 1.4 per cent like-for-like. The Brico Dépôt line developed much more dynamically, with sales shooting up by 34.8 per cent, or 7.9 per cent in comparable terms.
Kingfisher also reports strong rates of growth from other countries: Castorama Poland achieved an increase of 37.9 per cent (11.1 per cent like-for-like), and Castorama Italy grew by 19.2 per cent (8.0 per cent like-for-like). In Taiwan B&Q expanded its volume by 26.8 per cent (9.1 per cent like-for-like). B&Q China has seen three-digit growth: sales amount to 142.2 per cent (or 18.9 per cent like-for-like) over the previous year’s figures.
You can find a detailed depiction of Kingfisher’s home improvement division at DIYglobal plus in the Trade topics section (v. Other articles on this topic).
The group has also given further details about the recently ended financial year 2002/2003. B&Q increased its sales in the UK by 15.9 per cent, or 3.8 per cent in like-for-like terms. The specialist catalogue retailer Screwfix expanded by 31 per cent, with the share of internet sales increasing to 18 per cent. B&Q Direct, which sells around 14 000 articles through the www.diy.com website, increased sales threefold.
Castorama sales in France grew by 2.7 per cent, or 1.4 per cent like-for-like. The Brico Dépôt line developed much more dynamically, with sales shooting up by 34.8 per cent, or 7.9 per cent in comparable terms.
Kingfisher also reports strong rates of growth from other countries: Castorama Poland achieved an increase of 37.9 per cent (11.1 per cent like-for-like), and Castorama Italy grew by 19.2 per cent (8.0 per cent like-for-like). In Taiwan B&Q expanded its volume by 26.8 per cent (9.1 per cent like-for-like). B&Q China has seen three-digit growth: sales amount to 142.2 per cent (or 18.9 per cent like-for-like) over the previous year’s figures.
You can find a detailed depiction of Kingfisher’s home improvement division at DIYglobal plus in the Trade topics section (v. Other articles on this topic).
