B&Q owner Kingfisher stated this week that the quarterly sales at the chain store focused on DIY repairs are still under pressure since many shoppers are waiting on large purchases.
Also contributing to the downturn for B&Q is likely their decision to run less promotions compared during the period with their sales dropping by 4.3% in the ten weeks that led up to July 10th compared to their smaller 2.8% drop in the first quarter of the year.
The sales of B&Q were stronger in France where the company runs Brico Depot and Castorama with a drop in the same group of stores of only .8%.
Ian Cheshire, the chief executive, stated that even in the uncertain environment it was still a solid performance for all customers across the country of Europe. He added that pressure on consumers’ spending habits was evident most in the UK where it targeted promotions in order to help drive profits while still seeking to control costs.
Demand for bathrooms, kitchens, and bedrooms fell as a result of less promotion along with sales of seasonal categories.
On the other hand, B&Q did sell a total of 2,000 football bean bags and about 5,000 World Cup garden gnomes.
The group recently rolled-out TradePoint in-store merchandising which cost them £30m in the hopes of boosting its low shares within the market and is hoping to gain national coverage of the move by the end of the summer.
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