Screwfix saw sales rose by almost a quarter in the third quarter of its financial year helped by its “leading digital capability”, parent company Kingfisher said today.
Sales at the UK business of the trade supplies retailer, an Elite retailer in IRUK Top500 research, came in at £343m in the 13 weeks to October 31, 23.1% ahead of the comparable period last year. The business expanded fast, with 11 new outlets opening during the quarter; like-for-like sales, which strip out the effect of store openings and closures, rose by a more modest 12.7%. Sales growth, said Kingfisher in today’s statement, “was driven by its leading digital capability, new and extended ranges and 11 new outlets”.
At sister company B&Q UK and Ireland, a Leading retailer in IRUK Top500 research, sales of £900m were 3.3% down in total on the same time last year following a number of store closures. Some 59 of 65 planned store closures have now taken place, with seven closing in the third quarter. But like-for-like sales rose by 3.5%, including a 2% benefit from sales that transferred from closed stores.
UK and Ireland sales came in at £1.2bn, 2.8% up on the same time last year – or 5.8%, like-for-like. Kingfisher Group sales of £2.9bn were 11.5% ahead in total, and 1.8% like-for-like, after fast total sales growth in international markets – but like-for-like sales falls in the French and Spanish markets.
Chief executive Véronique Laury said the quarter had seen a solid sales performance that met expectations. “Sales have been driven by Poland and the UK, especially Screwfix, offset by softer sales in France,” she said.
“We continue to make good progress on our strategic milestones in the first year of our five year ONE Kingfisher transformation, and remain on track. In addition, we are gearing up for next year when the level of transformation activity will significantly increase. We remain confident in our ability to deliver our ambitious plan, based on always putting customer needs first, supported by the expertise and energy of our colleagues.”
