Kingfisher financial results in CEE markets, in Q2

In the 2nd quarter of 2018 (Q2), Castorama, part of the European home improvement company Kingfisher plc, registered declines in sales with -4.1% and Brico Depot, also part of Kingfisher plc., registered sales grow with +3.7%, according to Kingfisher plc financial highlights.

Kingfisher

On all markets where Castorama brand is present – France, Poland and Russia – the Castorama sales registered a decline with -4.1%. LFL decline with -3.8% reflecting continued softer footfall and the impact of transformation-related activity. LFL of weather-related categories was flat (impact on LFL in Q1 18/19 c.-4%, H1 18/19 c.-2%).

Castorama is the market leader in Poland with 76 stores and over 111.000 employees and in Russia operated 20 store with over 3.000 employees.

Brico Dépôt sales, from France, Spain, Romania and Portugal, grow with +3.7% to 545 millions £. LFL +2.6% reflecting good growth from the new unified ranges, which continue to re-energise the Brico Dépôt offer, supported by investment in marketing.

The grow of Brico Dépôt Romania was with +80.8% (includes Praktiker Romania acquired on 30 November 2017) and +4.6% LFL, to 58 millions £.

The british DIY retailer has a network of 38 stores in Romania, after Kingfisher acquired Bricostore’s 15 home improvement stores in Romania in 2013 and transformed it in Brico Dépôt stores and after Kingfisher also acquired 27 Praktiker stores in 2017 (4 Praktiker stores was closed after aquisition).

Q2 Group LFL up 1.6% helped by improved performance of weather-related categories
which contributed c.+2% to Group LFL; H1 LFL -1.1% (Q1 LFL -4.0%).

“We started our transformation two and a half years ago and are on track to deliver our strategic
milestones for the third year in a row. In Q2, I’m pleased that we grew our sales after the exceptionally harsh weather conditions in Q1,” said Véronique Laury, Chief Executive Officer Kingfisher plc.

Kingfisher plc

Kingfisher plc is an international home improvement company with nearly 1,300 stores in 10 countries across Europe, Russia and Turkey, supported by a team of 78,000 employees.

This article is part of the CEE DIY retail category from www.bricoretail.ro B2B publication and bring together news, in english, from Central and East Europe related with DIY and home improvement retail.

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