B&Q posts solid second quarter figures

B&Q like-for-like sales were up 5.5 per cent up in the 10 weeks to July 23, compared to 2014. and 3.3 per cent in the 23 weeks until 11 July.

Image: B&Q
Image: B&Q

Parent company Kingfisher reported a 3.5 per cent like-for-like increase in constanrt currencies.

B&Q like-for-like sales of outdoor and seasonal products were up 1.3 per cent. Showroom like-for-like sales were up 2.6 per cent with like-for-like sales of indoor products, excluding showroom, up 5.1 per cent.

Bedding plants were up 11 per cent and spinklers were up 44 per cent.

Kingfisher chief executive Veronique Laury said: "We have delivered a solid Q2 sales performance to date across all our major businesses, albeit against softer comparatives than in Q1. I am also very pleased to report that the pilot of our unified IT system, which is a key enabler of our ‘ONE’ Kingfisher plan, started on time in Ireland. We look forward to updating on further progress against our first ‘sharp’ decisions in September. And we have to date returned £138m to shareholders via a share buy back since the year end."

Michael Loeve was appointed B&Q chief executive in June.

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