Kingfisher just misses quarterly sales

Kingfisher was unable to maintain its sales in the third quarter (August to October 2020). Overall, the British DIY store group generated sales of GBP 3.221 bn (EUR 3.871 bn), down 0.6 per cent on the same period last year. On a like-for-like basis, this was 1.1 per cent lower.

However, the development varied greatly from one sales line and country to another. DIY chain B&Q in Great Britain and Ireland lost 1.1 per cent, while the professional-oriented sales line Screwfix gained 4.6 per cent. The bottom line was a plus in these countries of 1.2 per cent, to GBP 1.617 bn (EUR 1.943 bn). On a like-for-like basis, this represents an increase of 0.4 per cent.

In contrast, France reported a significant decline. Here, the Castorama stores saw a 7.2 per cent drop in sales. With a minus of 5.6 per cent, the decline in the more professional Brico Dépôt sales line was only slightly better…