Published on 24 July 2015

Kingfisher - Q2 Results +4.8%

Second Quarter pre-close update to 11 July 2015

Kingfisher reports total sales up 4.8% (+3.5% LFL) in constant currencies

Sales* 

In constant currencies

 

10 weeks to 11 July 2015

 

23 weeks to 11 July 2015

 

 

% Total

Change

% LFL*

 Change

% Total

Change

% LFL

Change

France* +2.6% +1.3% +1.4% (0.1)%
- Castorama +1.6% +1.7% +0.4% +0.5%
- Brico Dépôt +4.1% +0.7% +2.7% (0.7)%
UK & Ireland* +6.7% +5.5% +4.7% +3.3%
- B&Q UK & Ireland +2.6% +3.4% +0.3% +0.9%
- Screwfix +28.3% +16.7% +27.5% +16.0%
Other International* +4.3% +3.3% +6.0% +3.7%
- Poland +3.8% +5.3% +1.7% +2.7%
- Russia +10.5% +5.1% +21.6% +15.3%
Total Group +4.8% +3.5% +3.7% +2.1%

*Throughout this release ‘*’ indicates first instance of a term defined in the 2014/15 Annual Report and Accounts (p147).

Véronique Laury, Kingfisher’s Group Chief Executive, 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.”

TRADING REVIEW FOR THE 10 WEEKS (IN CONSTANT CURRENCIES)

FRANCE

  • Castorama LFL sales of seasonal products up 8.3% with LFL sales of non-seasonal products broadly flat. According to Banque de France* data, sales for the home improvement market were up 1.5% across May-June
  • Brico Dépôt continues to be impacted by a soft house building market1

UK & IRELAND

  • B&Q LFL sales of outdoor and seasonal products up 1.3%. Showroom LFL sales up 2.6% with LFL sales of indoor products, excluding showroom, up 5.1%
  • Screwfix on track to have opened 11 new outlets during Q2, taking the total to 412

OTHER INTERNATIONAL

  • Poland LFL sales of seasonal products up 16.5% with LFL sales of non-seasonal products up 2.9%
  • Sales in Russia reflecting more normalised consumer spending, after a strong Q1 (+31.3% LFL), in an uncertain market

1 New housing starts and planning consent data* down 7% and 5% respectively during the three months to the end of May 2015

Source: http://www.kingfisher.com/index.asp?pageid=366

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