Next Share News (NXT)

Retail stocks were off shopping lists on Thursday as results from B&Q owner Kingfisher left investors unimpressed.Europe's biggest home improvement retailer, which also owns Screwfix and Mr Bricolage in France, saw shares fall after reporting retail profits of £142m in the three months ended May 3rd, up 20.3% on the year before but below the consensus estimate of £145m.Constant currency sales during the quarter were 9.2% higher at £2.78bn, though reported growth was limited to just 6.1% as foreign exchange movements and weak consumer confidence pulled sales in France slightly lower. Growth was also flattered by relatively easy comparatives with last year.B&Q reported strong growth, with revenues up 10.5% at £1.01bn. However, a jump in lower-margin sales of outdoor seasonal and building products, as well as higher promotionally-led showroom sales and increased home delivery costs, led to a fall in margins in the UK and Ireland division.Commenting on the results, Will Hedden, Premium Client Manager at IG, said: "Headline numbers might have looked peaky, but missed the all-important analyst estimates, and showed a familiar macro theme of tightening margins in the UK and a reluctant consumer in France."Kingfisher's shares were down 4.5% at 398.7p in afternoon trade, along with sector peer Home Retail (-1.3%), which owns the Argos and Homebase chains. Other stocks such as Dixons, Debenhams, Next and Carpetright were also in the red today.Top performing sectors so far todayHealth Care Equipment & Services 5,685.60 +2.73%Industrial Metals & Mining 1,260.31 +2.43%Tobacco 40,743.46 +1.33%Oil Equipment, Services & Distribution 23,987.17 +1.24%Food & Drug Retailers 3,928.20 +1.16%Bottom performing sectors so far todayGeneral Retailers 2,843.79 -1.57%Chemicals 11,031.09 -1.03%Construction & Materials 4,414.42 -0.94%Forestry & Paper 11,676.15 -0.55%Automobiles & Parts 9,162.88 -0.53%BC