Menu
18/02/2005
B&Q sales growth falters in tougher conditions
The two-and-a-half year growth in sales at B&Q has finally ended as parent company Kingfisher reported a fall in sales at the UK and Ireland DIY store chain of 1.2% in like-for-like sales in the quarter to January 29, 2005.
Kingfisher's French division Castorama turned in a similar sales performance with a fall in sales of 0.9%.
The drop in sales at the DIY stores was blamed on weaker than anticipated consumer demand and out-dated ranges at B&Q, while refits at Castorama were said to have disrupted in-store trading during the quarter.
B&Q has experienced an ongoing overhead efficiency drive in the quarter, but in a statement Kingfisher said that the "benefits did not fully offset the weaker sales and price reductions in the period".
The group also operate Screwfix Direct, which has recorded positive sales growth since the commissioning of its new "fulfilment centre", Screwfix Direct's call centre and internet site, which were fully brought online in mid-December.
Commenting on the group's overall performance, Kingfisher Chief Executive, Gerry Murphy, said: "Kingfisher delivered good fourth quarter sales growth in France, Italy and China, offset by weaker performances in a more challenging UK market and in a Polish market impacted by last year's VAT changes. For the full year, Kingfisher delivered a solid overall performance, growing total sales by 9.9% and like-for-like sales by 3.9%.
"With a continued focus on margins, costs and cashflow, Kingfisher expects to announce pre-exceptional profit before tax in line with the current consensus of analysts' estimates on 17 March 2005."
Kingfisher plc is Europe's largest home improvement retailer with nearly 600 stores in nine countries in Europe and Asia.
While the group's main retail brands are B&Q, Castorama, Brico Depot and Screwfix Direct, Kingfisher also has a 21% interest in Hornbach, Germany's leading DIY Warehouse retailer.
(SP)
Kingfisher's French division Castorama turned in a similar sales performance with a fall in sales of 0.9%.
The drop in sales at the DIY stores was blamed on weaker than anticipated consumer demand and out-dated ranges at B&Q, while refits at Castorama were said to have disrupted in-store trading during the quarter.
B&Q has experienced an ongoing overhead efficiency drive in the quarter, but in a statement Kingfisher said that the "benefits did not fully offset the weaker sales and price reductions in the period".
The group also operate Screwfix Direct, which has recorded positive sales growth since the commissioning of its new "fulfilment centre", Screwfix Direct's call centre and internet site, which were fully brought online in mid-December.
Commenting on the group's overall performance, Kingfisher Chief Executive, Gerry Murphy, said: "Kingfisher delivered good fourth quarter sales growth in France, Italy and China, offset by weaker performances in a more challenging UK market and in a Polish market impacted by last year's VAT changes. For the full year, Kingfisher delivered a solid overall performance, growing total sales by 9.9% and like-for-like sales by 3.9%.
"With a continued focus on margins, costs and cashflow, Kingfisher expects to announce pre-exceptional profit before tax in line with the current consensus of analysts' estimates on 17 March 2005."
Kingfisher plc is Europe's largest home improvement retailer with nearly 600 stores in nine countries in Europe and Asia.
While the group's main retail brands are B&Q, Castorama, Brico Depot and Screwfix Direct, Kingfisher also has a 21% interest in Hornbach, Germany's leading DIY Warehouse retailer.
(SP)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
28 April 2005
Kingfisher warns of potential drop in profit
Kingfisher, the owner of the B&Q home improvement chain, has announced that they are expecting reported retail profit for the first quarter to drop by 15%. Kingfisher also said that it expected like-for-like sales to decline by around 6% in the first quarter.
Kingfisher warns of potential drop in profit
Kingfisher, the owner of the B&Q home improvement chain, has announced that they are expecting reported retail profit for the first quarter to drop by 15%. Kingfisher also said that it expected like-for-like sales to decline by around 6% in the first quarter.
20 August 2019
NI Sights Showcased To Global Travel Brands
Local tourism, hospitality and entertainment facilities are being showcased to sales teams from across the globe this week as The Travel Corporation (TTC) brings its conference to Belfast.
NI Sights Showcased To Global Travel Brands
Local tourism, hospitality and entertainment facilities are being showcased to sales teams from across the globe this week as The Travel Corporation (TTC) brings its conference to Belfast.
24 June 2014
Firms Take Advantage Of New Sales Opportunities
Businesses are to take advantage of new sales opportunities within the public sector after completing the Smarter Procurement Programme.
Firms Take Advantage Of New Sales Opportunities
Businesses are to take advantage of new sales opportunities within the public sector after completing the Smarter Procurement Programme.
24 April 2012
Belfast Software Firm Secures Export Contract
Belfast-based Sysco Software Solutions has secured business in the Republic of Ireland worth over £500,000 with support from Invest Northern Ireland. This success follows the company's investment last year towards the research, development and marketing of a new software application for the emerging cloud services sector.
Belfast Software Firm Secures Export Contract
Belfast-based Sysco Software Solutions has secured business in the Republic of Ireland worth over £500,000 with support from Invest Northern Ireland. This success follows the company's investment last year towards the research, development and marketing of a new software application for the emerging cloud services sector.
29 November 2005
NI manufacturing and exports rise
Total sales and exports reported by manufacturing companies in Northern Ireland have continued to increase over the last year. The latest figures from the Northern Ireland Manufacturing Sales and Exports survey, show that sales by manufacturing companies were worth £13.8 billion in 2004/05, an increase of 2.5% over the year.
NI manufacturing and exports rise
Total sales and exports reported by manufacturing companies in Northern Ireland have continued to increase over the last year. The latest figures from the Northern Ireland Manufacturing Sales and Exports survey, show that sales by manufacturing companies were worth £13.8 billion in 2004/05, an increase of 2.5% over the year.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
