Though Snowstorms Affected, Kingfisher’s Revenue Survived
In spite of January's snow storms affecting sales growth, Kingfisher is on the course for better than expected profit. The company expects that its cost cuts meant that profits would be slightly ahead of the £540 million for the year to January 30.
Sales for the final quarter at B&Q were, to some extent, up before the snowstorm, which left comparative sales down by 3.5% in 13 weeks. B&Q formerly profited from a 5.7% rise, during the quarter that was driven by higher sales of "big ticket" items.
Price cuts, supply chain savings and stronger sales of higher-margin goods helped in boosting the margins, regardless of the sales fall. The sales advanced 3.6% during the period of its international operations in Poland, China, Spain and Russia.
"Customers, courtesy of the weather, really went into hibernation after Christmas and probably aren't going to come out again until we see spring in the air", said Lan Cheshire, Chief Executive on Thursday.
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