Kingfisher-owned B&Q today followed DIY rival Wickes in posting a slump in UK sales after January’s heavy snowfall took its toll.
Europe’s largest home improvement retailer delivered strong performances in Russia and China but the latest trading period capped a year to forget for Kingfisher in the UK, where it was also hit by the spring and summer washout. Chief executive Ian Cheshire said: “We have had a tough fourth quarter, ending what has been a tough year impacted by unfavourable foreign exchange, particularly poor weather in the UK and weaker consumer confidence in our major markets.”
B&Q UK and Ireland posted a 6.4% fall in underlying sales in the quarter, which also reflected dire trading conditions in Ireland where it has placed its nine stores into a restructuring process to exit unprofitable outlets.
Wickes yesterday said like-for-like sales had fallen by 7.6% so far this year, following last month’s snow.
Total sales at Kingfisher, which has more than 1000 stores in eight countries from France to Turkey, rose by 1.5% to £2.39 billion in the 14 weeks to 2 February.
