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B&Q owner sees sales fall

Sales at diy chain B&Q fell 4% in the last 10 weeks, according to parent company Kingfisher.

B&Q owner sees sales fall

Like-for-like sales fell by 4.4% in the 10 weeks to 10 July in the UK and Ireland.

However, gross profit rose considerably on the first quarter. Total group sales fell by 0.8% due to increased revenues from international stores, particularly in France.

The drop was caused by a reduction of promotional activity and a reduced appetite from consumers for bigger ticket and showroom-style items such as kitchens, bedrooms and bathrooms.

Screwfix sales were also down, 3.6%.

“This is a solid performance in an uncertain environment for our customers right across Europe. Consumer spending remains under pressure, particularly in the UK,” said chief executive Ian Cheshire.

“While we remain cautious about the outlook for consumer spending, we are confident that the strengths of the group leave us well placed to continue our good progress over the balance of the year.”

Interim results to July 31 for Kingfisher will be announced on 16 September 2010.

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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