B&Q owner Kingfisher blames 'weak' UK for sales fall
- 29 November 2012
- From the section Business
B&Q owner Kingfisher has blamed the UK's "generally weak consumer backdrop" for a fall in sales at the home improvement chain.
B&Q's like-for-like sales - which strip out the impact of new stores - in the UK and Ireland fell 4% to £906m in the three months to 27 October.
The environment in Ireland had been "particularly challenging", it said.
However, B&Q's retail profit grew 1.7% to £45m, reflecting higher gross profit margins and cost efficiencies.
Overall, Kingfisher's group sales were down 3.9% to £2.7bn for the quarter, with retail profits down 5.9% to £257m.
Kingfisher is the world's third largest DIY chain, owning brands such as B&Q, Screwfix, Brico Depot and Castorama.