Kingfisher has said it remains on track to meet full-year targets as inflation and strong growth at its Screwfix fascia helped offset falling sales at B&Q. The home & DIY retailer recorded a three per cent rise in total sales to £3 billion for its third quarter ending October 31, and while there was a 0.5 per cent fall in group like-for-like sales, this was an improvement on a second quarter fall of 1.9 per cent. Kingfisher’s performance was boosted by a 16.6 per cent jump in Screwfix revenues, which also drove a 2.5 per cent increase in sales across its UK & Ireland market.
Read the original:
Kingfisher’s Screwfix chain offsets weak B&Q sales