B&Q owner reports sales dip
THE owner of DIY chain B&Q today reported a drop in like-for-like sales and said that the UK market continues to be "extremely tough".
Kingfisher, which also owns home improvement chains in France, said like-for-like sales in the UK were down 4.7 per cent in the 23 weeks to July 12, although total UK sales nudged ahead by 0.5 per cent.
Ian Cheshire, Kingfisher's chief executive, said: "We have achieved sales growth and taken action to improve gross margins and manage costs in all our major markets.
"As anticipated, the UK market remains extremely tough, but we are trading solidly.
"We are cautious about the consumer outlook. However, I am confident that investments in recent years have improved our value credentials and customer offer."
The full article contains 137 words and appears in Edinburgh Evening News newspaper.
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Last Updated:
24 July 2008 10:26 AM
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Source:
Edinburgh Evening News
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Location:
Edinburgh
