Kingfisher sales update
Kingfisher PLC
20 November 2001
EMBARGOED UNTIL 0700 HOURS
Tuesday 20 November 2001
Trading statement for 13 week period ended 3 November 2001
KINGFISHER REPORTS SALES GROWTH OF 13.5%
Kingfisher plc, the leading European retail group, today reports that total
sales for its continuing operations, excluding the now separated General
Merchandise businesses, grew during the third quarter ended 3 November 2001 by
13.5% to £2.4 billion. Like-for-like sales increased by 4.8% for the quarter.
For the year to date, total sales were up 12.5% and like-for-like sales were
ahead by 4.7%. The effects of the events of 11 September proved to be short
term with sales quickly reverting to the previous trends.
Home Improvement
The Group's largest sector, Home Improvement, continued to deliver excellent
sales growth. The sector's performance was again boosted by B&Q in the UK which
delivered double digit organic like-for-like growth for the third quarter in a
row. In France, Brico Depot continues to grow strongly offsetting the slower
growing Castorama main chain stores.
Electrical and Furniture
The sector saw strongest growth in the UK, capitalising on a strong electricals
market. Comet delivered total sales growth of 15.8%, of which organic
like-for-like growth was over 6%. In France, where the market has been slower,
total sales grew by 8.4% with organic like-for-like sales growing by 1.0%. In
Germany, the electricals market remained challenging. However, steps taken to
turnaround ProMarkt continued to show results, with an improved gross margin
and lower costs despite the lower sales.
Commenting on the sales figures, Sir Geoffrey Mulcahy, Group Chief Executive,
said: 'Overall, these are encouraging sales figures, with B&Q in particular
continuing to deliver very strong growth. In these uncertain times, we are
focused on consistently offering our customers the best choice, service and
value, whilst managing costs tightly.'
Kingfisher's next sales update will be made in February 2002 and will cover the
fourth quarter of the current financial year.
-end-
Note to editors
Kingfisher plc is one of Europe's leading retailers operating principally in
the international Home Improvement, Electrical and Furniture markets. More than
half of the Group's turnover arises overseas, making it the UK's most
international retailer. Kingfisher employs around 90,000 people in over 1,300
stores across 16 countries and includes some of the best known retail brands in
Europe including B&Q, Castorama, Comet, Darty and BUT.
Further enquiries:
Broker and Institutional Enquiries
Ian Harding, Director of Investor Relations +44 (0) 20 7725 4889
Media Enquiries
Andrew Mills, Director of Corporate Affairs +44 (0) 20 7725 5776
France
Graham Fairbank, Head of Corporate Communications +33 (0) 1 43 18 52 26
Kingfisher plc +44 (0) 20 7724 7749
Kingfisher Website www.kingfisher.com
QUARTER 3 TRADING STATEMENT
Third quarter 2001/02
Sales for the 13 week period ended 3 November 2001
% increase/(decrease)
2001/02 2000/01 Total sales Like-for-like
£m £m % %
Home Improvement sector
UK (1) 800.5 660.8 21.1 12.7
France (2) 484.6 451.2 7.4 3.7
Other (3) 205.3 167.0 22.9 2.8
Sector total 1,490.4 1,279.0 16.5 8.1
Electrical and Furniture sector
UK (4) 308.0 265.9 15.8 6.3
France (5) 411.8 379.9 8.4 1.0
Germany (6) 136.2 145.9 (6.6) (13.9)
Other (7) 49.6 40.0 24.0 (5.5)
Sector total 905.6 831.7 8.9 (0.4)
Total Continuing Operations (8) 2,396.0 2,110.7 13.5 4.8
Home Improvement France (EURm) 776.6 737.8 5.3
Electrical and Furniture France 660.3 630.5 4.7
(EURm)
Electrical and Furniture Germany 218.1 242.7 (10.1)
(EURm)
The like-for-like increases are shown at constant exchange rates
Notes:
(1) Home Improvement UK comprises B&Q and Screwfix.
(2) Home Improvement France relates to domestic French operations only
(Castorama France, Brico Depot, Dubois Materiaux and Amiland).
(3) Home Improvement Other includes all Home Improvement activities
outside France and the UK. B&Q China included for the 3 months to 30
September 2001 (last year 3 months to 30 September 2000).
(4) Electrical and Furniture UK relates to Comet.
(5) Electrical and Furniture France comprises Darty and BUT.
(6) Electrical and Furniture Germany relates to ProMarkt, included for the
3 months August to October 2001 and August to October 2000 respectively
(previously reported as the 3 months to 30 September 2000).
(7) Electrical and Furniture Other comprises BCC, Vanden Borre and Datart.
Datart included for the 3 months to 30 September 2001. Previously
reported numbers for last year also included sales of £8.7m from
Electric City.
(8) Sales from operations outside the UK are reported on a calendar month
basis.
QUARTER 3 TRADING STATEMENT
Third quarter 2001/02
Sales for the 39 week period ended 3 November 2001
% increase/(decrease)
2001/02 2000/01 Total sales Like-for-like
£m £m % %
Home Improvement sector
UK (1) 2,472.5 2,081.2 18.8 12.4
France (2) 1,415.2 1,319.9 7.2 3.7
Other (3) 587.7 469.2 25.3 (0.3)
Sector total 4,475.4 3,870.3 15.6 7.8
Electrical and Furniture sector
UK (4) 826.5 721.4 14.6 5.5
France (5) 1,130.8 1,064.1 6.3 0.8
Germany (6) 446.1 460.4 (3.1) (9.8)
Other (7) 137.2 120.1 14.2 (8.1)
Sector total 2,540.6 2,366.0 7.4 (0.4)
Total Continuing Operations (8) 7,016.0 6,236.3 12.5 4.7
Home Improvement France (EURm) 2,282.2 2,158.2 5.7
Electrical and Furniture France 1,823.5 1,748.2 4.3
(EURm)
Electrical and Furniture Germany 719.4 756.8 (4.9)
(EURm)
The like-for-like increases are shown at constant exchange rates
Notes:
(1) Home Improvement UK comprises B&Q and Screwfix.
(2) Home Improvement France relates to domestic French operations only
(Castorama France, Brico Depot, Dubois Materiaux and Amiland).
(3) Home Improvement Other includes all Home Improvement activities
outside France and the UK. B&Q China included for the 9 months to 30
September 2001 (last year 9 months to 30 September 2000).
(4) Electrical and Furniture UK relates to Comet.
(5) Electrical and Furniture France comprises Darty and BUT.
(6) Electrical and Furniture Germany relates to ProMarkt, included for the
10 months January to October 2001 and January to October 2000
respectively (previously reported as the 9 months to 30 September 2000).
(7) Electrical and Furniture Other comprises BCC, Vanden Borre and Datart.
Datart included for the 9 months to 30 September 2001. Previously
reported numbers for last year also included sales of £26.6m from
Electric City.
(8) Sales from operations outside the UK are reported on a calendar month
basis.