B&Q owner buoyed by brighter outlook as housing market starts to recover
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy B&Q owner Kingfisher has cautioned customers are continuing to shun “big ticket” home improvement purchases, but cheered a brighter outlook thanks to signs of a pick-up in the housing market. UK and Ireland like-for-like sales – including the Screwfix chain – fell 0.2% as cooler spring and early summer weather knocked demand, but Kingfisher said seasonal sales of items such as outdoor furniture, BBQs and decking had improved since July. The firm revealed B&Q sales of so-called big ticket items – largely kitchen and bathroom ranges – tumbled 11.6% in the UK and Ireland over the first half. Thierry Garnier, chief executive of Kingfisher, said: “As expected, demand for ‘big-ticket’ categories has remained weak, in line with the broader market, while seasonal category sales trends have improved since early July.
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Home improvement firms set to post lower profits after costs soar
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