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Kingfisher bemoans weak B&Q sales


Brand owner says weak consumer backdrop behind sales dip

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Europe's biggest home improvement retailer and owner of the B&Q brand – Kingfisher – has announced a like-for-like sales fall at the home improvement retailer of 4 percent to £906 million in the three months to 27 October.

A Kingfisher spokesperson said on Thursday that the UK and Ireland’s "generally weak consumer backdrop" was behind a fall in B&Q sales. The company described the environment in Ireland as "particularly challenging."

However, B&Q's retail profit grew 1.7 percent to £45 million.

Overall, Kingfisher's group sales – including brands such as Screwfix, Brico Depot and Castorama – were down 3.9 percent to £2.7 billion for the quarter with retail profits down 5.9 percent to £257 million.

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Kingfisher bemoans weak B&Q sales
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