LONDON (ShareCast) - B&Q owner Kingfisher (LSE: KGF.L) saw sales in the last ten weeks rise by 4.4%, but were down 1.5% on a like for like basis, a slight improvement on earlier in the year.
UK market remained tough but total sales were up 5.1%, boosted by stronger seasonal sales and Screwfix trade counter openings.
Margin and cost improvements helped offset a small like for like sales decline, while overseas sales were up 3.9% boosted by a strong performance in Poland.
B&Q total sales grew 3.7%, and 0.2% on a like for like basis, with sales of seasonal categories up nearly 20%, compared with the same weather-affected period last year, offset by weakness in non-seasonal indoor products.
"We are cautious about the consumer outlook, however, I am confident that the investments made in recent years have improved our value credentials and customer offer, particularly in the UK and France, leaving us well placed to trade effectively in difficult times," he added.
Source:http://uk.biz.yahoo.com/080724/214/i3ph6.html
