Kingfisher maintains quarterly sales in nominal terms

The UK-based Kingfisher Group has maintained its sales in the first quarter of its 2023/2024 financial year. From February to April, the number two in European DIY retailing turned over GBP 3.271 billion (EUR 3.772 billion), 0.8 per cent more in nominal terms than in the same period last year. Adjusted for currency effects, however, sales were 2.0 per cent lower, and adjusted for currency and like-for-like effects, 3.3 per cent lower.

In Great Britain and Ireland, turnover rose by 1.4 per cent in nominal terms, but fell by 0.8 per cent after adjustment for currency and like-for-like effects. In France the figure was -4.1 per cent; the nominal increase there was 1.2 per cent.

Business in Poland (adjusted -10.3 per cent) and Romania (adjusted -7.8 per cent) was consistently down on the same quarter last year. Only in Spain and Portugal were both nominal (8.1 per cent) and adjusted (2.5 per cent) growth contributions positive (see table).

E-commerce revenue volume for the group as a whole increased by 4.7 per cent and now accounts for 16.9 per cent of total revenue. "One of the drivers of this is the continued success of B&Q's marketplace, which achieved 27 per cent of B&Q's online sales in April, a year after its launch," said CEO Thierry Garnier.