B&Q News Update: Sales Recovery Aided by Weather
B and Q News Update: Kingfisher, the owner of DIY chains B and Q and Screwfix, has reported a recovery in sales helped by better weather, recent news has revealed.
Earlier this summer the weather was not great. As the UK resigned itself to another wet summer retailers were suffering too as the traditional run on garden furniture and the seasonal items that they would expect to be selling in the summer months, failed to materialise. Then the summer weather changed direction and the sun came out with a resulting improvement in sales.
Speaking to the BBC, the B and Q chief executive Ian Cheshire reported that in the ten weeks leading up to the middle of July like for like sales excluding new store openings saw a rise of 2.5%. With the improvement in the weather the sale of seasonal goods rose significantly to around twenty percent and overall accounted for a figure in the region of about forty per cent of the total sales at the country’s B and Q stores.
The first quarter for retail giant Kingfisher had been far from spectacular with figures falling over 4% as the bad weather affected sales of building and outdoor products. The company’s chief executive, reported that the company had benefited from the improved weather conditions and that he was hopeful that the second quarter would help the company towards better sales figures. However Mr Cheshire tempered his enthusiasm with realism as he highlighted the continuing harsh economic climate that, in common with many other businesses, was making trading conditions f difficult or B and Q. He blamed a lack of consumer confidence and said that that was forcing focus on self-help margins and on cost initiatives. Mr Cheshire predicted that the first half of the financial year would be on target for B and Q.
B and Q has a large presence over the Channel with around two hundred stores in France that trade under the Brico and Castorama brand names. Results from these stores recorded like for like sales figures rising, at just over one percent.
B and Q News Update
There is no doubt that trading can be more challenging when there is a reliance on the sale of season goods and the summer fails to deliver. The weather this year has had some spectacular highs and lows but B and Q, one of the best names for DIY in the UK will, no doubt, be able to weather the storm.
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