Kingfisher, parent company of B&Q have said that quarterly sales at the UK’s biggest DIY chain remained under pressure after shoppers put off “big-ticket” purchases.
B&Q’s like-for-like sales fell 4.3% in the 10 weeks to July 10, compared with a drop of 2.8% in the first quarter of its financial year, apparently due to their decision to run fewer promotions.
The company also operates in France, where the drop in group same-store sales was 0.8% in the quarter.
Ian Cheshire, Chief executive, said: “This is a solid performance in an uncertain environment for our customers right across Europe.”
He said that the UK had suffered most with the pressure of consumer spending, and they had tried to target promotions in order to drive profitable growth, but sales of bathrooms, kitchens and bedrooms etc had fallen.
But Kingfisher also said that the roll-out of it’s TradePoint instore initiative had disrupted trading, but that they hope this will improve their professional trade share of the market in the longer term.
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