B&Q UK sales drop

B&Q owner Kingfisher said 80% of its profits were generated overseas in the last quarter after a further deterioration in sales at the UK's biggest DIY chain.

The group's flagship B&Q business, which operates from 330 stores in the UK and Ireland, saw like-for-like sales drop 5.1% in the third quarter to October 30, compared with 3.7% reported at the half-year stage, due to lower footfall and tougher comparisons with a year earlier.

Profits across Kingfisher's UK and Ireland division, which also includes building supplies arm Screwfix, were flat at £46 million after the company managed to offset the sales fall by protecting margins through better product sourcing and cost efficiencies.

There was better news for Kingfisher from its Castorama and Brico Depot operation in France, where the company outperformed the wider market to increase like-for-like sales by 1.8% and deliver a third quarter profits rise of 3.1% to £130 million.

Castorama grew like-for-like sales by 4% after benefiting from a store modernisation programme and a 'Do-it-Smart' marketing campaign aimed at making home improvement projects easier for customers.

Kingfisher's international sales, including operations in Spain, Russia, China, Poland and Turkey, were down 1.1% on a like-for-like basis but with profits up 18% to £64 million. Across the group, profits were up 8.2% on a year earlier to £240 million during the quarter.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Sign up now
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Read These Next

Electric car charging: an opportunity for garden centres?

Electric car charging: an opportunity for garden centres?

There are 11,700 electric car-charging points across the UK but only eight at garden centres, so more can be done to take the opportunity in garden retail.

Dazzling display of new plants at Four Oaks Trade Show 2017

Dazzling display of new plants at Four Oaks Trade Show 2017

A wide range of first-time exhibitors and established names will showcase a wealth of new varieties at September's Four Oaks Trade Show, says Matthew Appleby.

Product and service showcase

Product and service showcase

Fresh solutions to production problems can be found among the array of products and services being introduced at the Four Oaks Trade Show, Sally Drury reports.

Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +
Horticulture Jobs
More Horticulture Jobs

Horticulture Week Top 100 GARDEN CENTRES

Our exclusive ranking of garden centre performance by annual turnover. 

Garden Centre Prices

Peter Seabrook

Inspiration and insight from travels around the horticultural world

Read more Peter Seabrook articles

Neville Stein

Business advice from Neville Stein, MD of business consultancy Ovation

Read latest articles