It appears the B&Q have had yet another difficult quarter with like for like sales in UK stores falling by 4.3% in the last ten weeks. Sales of building products were also down, showing that customers are less likely to be considering large DIY jobs and home improvements.
However like for like sales in B&Q's French stores rose by 2.6 % over the same period, while sales in China increased by almost 1%.
Ian Cheshire from the retailer said that the Kingfisher group was holding steady and that it had a solid performance across Europe. However he admits that spending is under pressure in the UK and that the company is attempting to target its promotions and control costs wherever possible. He commented further that they will be watching consumer spending very carefully.
Other analysts have suggested that the impact of the World Cup was overstated and that the weather has had less of an impact than expected. They say that B&Q's pattern of offering fewer promotions has been a large part of the drop in sales of large ticket items.