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B&Q's sales bounce back after torrid start to year. B&Q's sales have bounced back following warmer weather in the UK, but shares in its parent company fell due to its poor performance in France. Despite the company facing a "weak UK consumer backdrop", B&Q's sales rose 3.6%, while Screwfix's sales climbed by 5.5%. Neil Wilson, chief market analyst at Markets.com, said: "Unusually warm summer lifted sales at Kingfisher in the second quarter, but we still see continued weakness in France that is dragging on the group performance. "After the Beast from the East took a nasty chunk out of first-quarter sales, this is a welcome return to like-for-like growth.

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16 Aug 2018, 10:29 AM16 Aug 2018, 3:40 PM16 August 2018, 10:29 AM16 August 2018, 3:40 PM. (Bloomberg Opinion) -- It’s one step forward, two steps back for European home-improvement group Kingfisher Plc. Sales of paddling pools to plants amid the U.K.’s heat wave helped Kingfisher’s B&Q chain lift same store-sales by a better than expected 3.6 percent in the three months to July 31. The more trade-focused Screwfix also improved from the first quarter, when snowy weather dragged down its performance. But the picture was less pretty in France, where like-for-like sales fell 1 percent, underperforming the domestic market.

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It's one step forward, two steps back for European home-improvement group Kingfisher Plc. That's not enough progress to banish the possibility of a break-up. Sales of paddling pools to plants amid the U.K.'s heatwave helped Kingfisher's B&Q chain lift same store-sales by a better than expected 3.6 percent in the three months to July 31. The core Castorama chain was hit by disruption from Chief Executive Officer Veronique Laury's efforts to buy more products centrally and upgrade information technology systems.

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People flocking to B&Q to buy barbecues and paddling pools helped boost owner Kingfisher’s sales but a disappointing performance in France on Thursday cast doubt over its turnaround efforts. The business, which is halfway through a plan to cut costs and slim its ranges, has seen earnings rise 3.4% to £3.2 billion for the second quarter to July 31. It benefited from a scorching summer in Britain with same-store sales up 4.2%, including 3.6% growth at B&Q and a 5.5% gain at Screwfix. However, same-store sales in France dipped 1% as its DIY chain Castorama continued to struggle. “We have put additional action in place to support our full-year performance in France with the benefits expected to come through in the second half,” said chief executive Véronique Laury.

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B&Q sales growth boosted by fans and paddling pools. The DIY retailer sold 305,000 fans and sold out of its paddling pool range - selling more than 60,000 - during the heatwave. The firm bounced back in the three months to 31 July - after taking a hit in the first quarter due to the wave of snow and cold weather dubbed the Beast from the East which saw its UK and Ireland revenues nosedive by 9%. Chief executive Veronique Laury said: "We started our transformation two-and-a-half years ago and are on track to deliver our strategic milestones for the third year in a row. "In the second quarter, I'm pleased that we grew our sales after the exceptionally harsh weather conditions in the first quarter. "In B&Q, Screwfix... we delivered good sales growth.

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(Reuters) - Kingfisher (KGF.L), Europe's second largest home improvement retailer, reported a pick-up in underlying sales in its latest quarter, with demand for seasonal products boosted by the prolonged spell of warm weather. The group said it was pleased with the recovery at its B&Q and Screwfix businesses in Britain but said it had work to do to improve its French business Castorama, which continues to struggle. Group like-for-like sales rose 1.6 percent in the three months to July 31, its second quarter period, rebounding from the fall of 4.0 percent in the first quarter, when sales were hit by winter snow storms. At B&Q, warm weather boosted sales of hosepipes and sprinklers by 400 percent, while sales of charcoal for barbeques were up 75 percent, and the business sold out of paddling pools and shifted 305,000 fans.

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B&Q’s sales have bounced back following warmer weather in the UK, but shares in its parent company fell due to its poor performance in France. Despite the company facing a “weak UK consumer backdrop”, B&Q’s sales rose 3.6%, while Screwfix’s sales climbed by 5.5%. Neil Wilson, chief market analyst at Markets.com, said: “Unusually warm summer lifted sales at Kingfisher in the second quarter, but we still see continued weakness in France that is dragging on the group performance. The results in the UK are a sharp turnaround from the first quarter, when the Beast from the East knocked B&Q’s revenues by 8.8%.

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LONDON, Aug 16 (Reuters) - Kingfisher (Frankfurt: 812861 - news) , Europe's second largest home improvement retailer, said prolonged warm weather lifted sales but the weak performance of its French business Castorama darkened its outlook. A warm summer helped group underlying sales rise 1.6 percent in the three months to July 31, Kingfisher's second quarter, with hosepipes and fans in particular demand. Kingfisher said it was on track to deliver on its "strategic milestones" for this year, but its shares dropped 3 percent to 280 pence after the trading statement as analysts said that struggling Castorama, where quarterly underlying sales fell 3.8 percent, would weigh on annual results. "The performance of Castorama France has been more difficult and as a result we have put additional actions in place to support our full year performance in France with the benefits expected to come through in the second half," Chief Executive Veronique Laury said in a statement on Thursday.

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Share this with EmailShare this with FacebookShare this with TwitterShare this with Whatsapp. The company said same-store sales at B&Q in the UK and Ireland rose 3.6% in the three months to 31 July. "However, the performance of Castorama France has been more difficult and as a result, we have put additional actions in place to support our full-year performance in France, with the benefits expected to come through in [the second half of the financial year." "After the Beast from the East took a nasty chunk out of [first-quarter] sales, this is a welcome return to like-for-like growth. Sometimes retailers can blame it on the weather and in the first half, Kingfisher has had both the good and the bad."

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