LONDON (Alliance News) - Kingfisher PLC on Tuesday reported growth in sales in the first quarter of its financial year and said it is on track in the first year of its five-year plan.
The DIY retailer said total sales in the three months to April 30 grew by 5.1% to GBP2.72 billion on the same period the year before, as sales in France rose by 9.7%, sales in the UK & Ireland were up 1.3%, and other international sales increased by 6.0%.
Kingfisher said it is making progress with its operational milestones for the year, with its unified IT platform now in all B&Q stores and the set-up of its new offer and supply chain organisation well underway.
Meanwhile, the planned closure of 15% of surplus B&Q space remains on track, with 40 of the 65 planned stores closed.
"We have made a solid start to the year, trading in line with expectations. In addition, I am pleased with the early progress we are making on our operational milestones for this year, the first year of our ambitious five year plan. We continue to feel confident in our ability to deliver our plan, based on putting customer needs first, supported by the expertise and enthusiasm of our colleagues," Chief Executive Véronique Laury said in a statement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Kingfisher (KGF)