Wednesday 23 May 2001
Trading statement for 13 week period ending 5 May 2001
KINGFISHER REPORTS SALES GROWTH OF 11.3% TO £ 2.9
BILLION
Kingfisher plc, the leading European home and family retailer, today
reports total sales growth during the first quarter of this year of 11.3% to a
record £2.9 billion. Like-for-like sales growth over the same period was
4.9%.
Home Improvement - total sales growth 16.0%, like-for-like 7.6%.
Sales of products for internal projects, combined with a record two week
Easter holiday trading period, offset the impacts of poor weather on
outdoor seasonal ranges in the first two months of the year. The strong
growth for B&Q has also benefited by around 3% due to the 13 week
period to 5 May 2001 being more weighted towards the peak trading
season when compared with the first quarter last year which ran to 29
April 2000.
Electrical and Furniture - total sales growth 7.9%, like-for-like 1.6%.
New technology and digital products continued to drive sales offsetting
slower demand for PCs. Overall, sales growth in the sector was delivered
in spite of the comparison with a very strong equivalent period last year.
General Merchandise - total sales growth 7.1%, like-for-like 3.6%.
Initiatives set in train last year focusing on improving ranges, product
availability and value to customers helped deliver sales growth in the
sector. The new Big W and General Store formats continue to show
promise for the future.
Commenting on the sales figures, Sir Geoffrey Mulcahy, Group Chief
Executive, said: " This is a satisfactory start to this year with trading in line
with our expectations. As always it is too early to draw conclusions from
these figures about the year as a whole. "
He added: "All the businesses are clearly focused on delivering their
financial and strategic objectives in the extremely competitive markets in
which they operate.
As previously announced, the separation of
Kingfisher's General Merchandise businesses is well underway and is on
schedule to be delivered by the end of July.
Work on the demerger option has progressed well. At the same time we
are well advanced with negotiations with the prospective buyers of both
the main businesses. Our final decision will be based on which route
ensures best value for shareholders. Having leading brands in fast growth
markets combined with a track record of successful innovation and
investment leave us well placed to deliver our medium term growth
targets."
-endNotes to editors:
Kingfisher plc is one of Europe’s leading retailers. It operates principally
through its two international businesses, Home Improvement and
Electrical & Furniture, and its UK-focused General Merchandise business.
The company employs more than 130,000 people in over 2,900 stores
across 16 countries and has some of the best known retail brands in
Europe, including B&Q, Castorama, Comet, Darty, BUT, Woolworths and
Superdrug among others.
For further information
Media Enquiries
Andrew Mills, Director of Corporate Affairs
Gail Lavielle, Director of Corporate Communications
+ 44 (0) 20 7725 5776
+ 33 (0) 1 43 18 52 68
Tom Wyatt - Financial Dynamics
+ 44 (0) 20 7269 7204
Broker and Institutional Enquiries
Ian Harding, Director of Investor Relations
Graham Fairbank, Head of Corporate Communications
+ 44 (0) 20 7725 5776
+ 33 (0) 1 43 18 52 26
Kingfisher plc
+ 44 (0) 20 7724 7749
Kingfisher Website
www.kingfisher.com
QUARTER 1 TRADING STATEMENT
First Quarter 2001/02
Sales for 13 week period ending 5 May 2001
2001/02
2000/01
£m
£m
795.0
438.6
149.8
677.9
390.7
124.2
17.3%*
12.3%
20.6%
11.8%*
4.2%
(3.8%)
1,383.4
1,192.8
16.0%
7.6%
Darty (7)
Comet
ProMarkt (4,7)
BUT (7)
Other (5)
282.9
272.8
139.2
82.2
41.4
266.2
235.8
134.9
75.5
46.3
6.3%
15.7%
3.2%
8.9%
(10.6%)
0.3%
7.2%
(2.3%)
3.8%
(11.7%)
Electrical and Furniture sector
818.5
758.7
7.9%
1.6%
Woolworths
Superdrug
Other (6)
394.2
211.0
118.4
387.5
192.8
95.6
1.7%
9.4%
23.8%
1.2%
6.9%
12.2%
General Merchandise sector
723.6
675.9
7.1%
3.6%
2,925.5
2,627.4
11.3%
4.9%
698.9
450.7
221.9
130.9
643.3
438.4
222.1
124.3
8.6%
2.8%
(0.1%)
5.3%
UK (1)
France (2,7)
International (3)
Home Improvement sector
Total Group
% increase/(decrease)
Total sales
Like-for-like
%
%
Euro (2001/02: £1 = EUR 1.59; 2000/01: £1 = EUR
1.65)
Home Improvement France (EURm)
Darty (EURm)
ProMarkt (EURm)
BUT (EURm)
The like-for-like increases are shown at constant exchange rates
* The growth has benefited by around 3% due to the 13 week period to 5 May 2001 being more weighted towards the
peak trading season when compared with the first quarter last year which ran to 29 April 2000.
Notes
(1) Home Improvement UK includes B&Q Warehouse, Supercentre and Screwfix.
(2) Home Improvement France relates to domestic French operations only (Castorama France, Brico Dépôt
France, Dubois Matériaux and Amiland).
(3) Home Improvement International includes all Home Improvement activities outside of France and the
UK. B&Q China included for the 3 months to 31 March 2001 (last year 3 months to 31 March 2000).
(4) ProMarkt included for the 3 months February to April 2001 and February to April 2000 respectively
(previously reported as the 3 months to 31 March 2000).
(5) Electrical and Furniture Other comprises BCC, New Vanden Borre and Datart. Datart included for the 3
months to 31 March 2001. Last year includes sales of £8.5m from Electric City.
(6) General Merchandise Other includes Big W, General Store, Entertainment UK, MVC, VCI and
StreetsOnline. VCI included for the 3 months February to April 2001 and February to April 2000
respectively (previously reported as the 3 months to 31 March 2000). StreetsOnline included for the 3
months to 31 March 2001. Entertainment UK and VCI are not included in the like-for-like sales.
(7) Castorama, Darty, ProMarkt and BUT sales are reported on a calendar month basis.