26th Jul 2007 07:01
Kingfisher PLC26 July 2007 EMBARGOED UNTIL 0700 HOURS Thursday 26 July 2007 Kingfisher plc Unaudited pre-close sales update to 14 July 2007 10 weeks to 14 July 2007 23 weeks to 14 July 2007Retail Sales (1) % Total Change % LFL % Total % LFL Change Change Change UK (2) -0.7 -1.5 6.8 2.3France 9.9 2.7 10.4 3.9Rest of Europe (3) 26.2 14.4 31.5 18.0Asia (4) 16.9 9.9 13.0 4.4 International 14.0 6.0 15.0 7.0Total 7.2 2.6 11.0 4.7 (1) All figures are on a constant currency basis. Joint Venture andAssociate sales are not consolidated. Data is provided for the 10 weeks to 14July 2007, with the exception of Russia and China which are reported for the 13weeks to 30 June 2007. (2) B&Q, Screwfix and Trade Depot. (3) Poland, Italy, Spain, Ireland and Russia. (4) China. • 10 week total sales up 7.2%, +2.6% on a like for like (LFL) basis • Year to date total sales up 11.0%, +4.7% LFL • International (ex-UK), now 53% of Kingfisher sales, growth continues, +15.0% • UK market continues to be weak and affected by poor weather • B&Q progressing well with development programme Commenting on the year to date, Gerry Murphy, Group Chief Executive, said: "Our international businesses, which now account for more than half ofKingfisher's sales, continued to perform well, with sales up 15.0%. Forty-eightnew stores have been opened so far this year, taking the total to 760 in 10countries. "In the UK all our businesses delivered sales growth despite the marketcontinuing to be weak and promotional. Abnormal weather patterns boosted salesin the first quarter but were very unhelpful in the second. B&Q is making goodprogress modernising its stores and updating its ranges." All figures and comments below refer to the 10 weeks to 14 July (1) UK B&Q total sales fell 3.6% (-2.3% LFL) in a weak market. Sales of outdoorproducts were sharply down reflecting the poor weather and the pull-forward ofsales into an unseasonably warm Q1. Sales of weather-affected categories were upover 20% in Q1 but down nearly 20% in the 10 weeks to 14 July. Sales of otherproducts were generally solid although kitchen and bathroom sales still rely onpromotional stimulus. Gross margin percentage is expected to be broadly flatcompared to the same period last year. Kingfisher's UK trade businesses,Screwfix and Trade Depot, delivered strong sales growth of 37.8% overall. FRANCE Sales grew 9.9% (+2.7% LFL) in a firm market, supported by new store openings.New decorative ranges, kitchens and bathrooms performed well although this waspartly offset by weaker sales of weather-affected outdoor products andair-conditioning. Castorama sales grew 4.5% (+3.5% LFL, +5.0% comparable storebasis) and Brico Depot sales were ahead 15.3% (+2.1% LFL). REST OF EUROPE AND ASIA Sales in other international markets grew strongly, up 22.8% (+12.8% LFL) with18 new stores trading compared with the same quarter last year. Castorama inPoland delivered strong sales growth of 34.9% (+25.4% LFL) in a buoyant market.Sales for Castorama Italy declined 1.5% (-1.7% LFL) in a weaker consumer marketand affected by poor weather, especially in the north. B&Q China grew 16.9%(+9.9% LFL), reflecting seasonal factors and the timing of promotions. Kingfisher plc will announce its interim results for the 6 months to 4 August2007 on 20 September 2007. Enquiries: Ian Harding, Group Communications Director 020 7644 1029 Nigel Cope, Head of Communications 020 7644 1030 Sarah Gerrand, Head of Investor Relations 020 7644 1032 Kingfisher plc is Europe's leading home improvement retail group and the thirdlargest in the world, with 760 stores in 10 countries in Europe and Asia. Itsmain retail brands are B&Q, Castorama and Brico Depot. Kingfisher also has a21% interest in, and strategic alliance with, Hornbach, Germany's leading DIYWarehouse retailer, with over 120 stores in Germany and eight other Europeancountries. Further copies of this announcement are available at www.kingfisher.com or byapplication to: The Company Secretary, Kingfisher plc, 3 Sheldon Square, London,W2 6PX. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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