Скачать с ютуб B&Q owner Kingfisher's new CEO blasts 'disappointing' like-for-like sales slump в хорошем качестве

B&Q owner Kingfisher's new CEO blasts 'disappointing' like-for-like sales slump

Reported today on City AM For the full article visit: http://bit.ly/37mi5jA B&Q owner Kingfisher saw like-for-like sales sink 3.7 per cent over its third quarter, as its new chief executive admitted he has "much to do" to improve the business.Sales sank 3.1 per cent to £2.96bn over the quarter to the end of October, with the UK seeing a one per cent decline in like for like sales to rake in £1.29bn.Read more: Major UK high street chains close 6,000 stores in 2019B&Q sales sank 3.5 per cent year on year to £820m, slightly offset by an eight per cent rise in Screwfix sales to £477m.Kingfisher's French units – Castorama and Brico Depot – contributed to a six per cent drop in sales in the country, which sank to £1bn in revenue.The DIY giant also saw heavy declines across its international businesses, which collectively fell 4.9 per cent thanks largely to a 15 per cent plunge in Russian sales and Iberia's eight per cent drop.Kingfisher blamed the decline in sales on the introduction of new product ranges, ongoing operational challenges in France and "softer market conditions" in its main European markets.CEO Thierry Garnier, who replaced Veronique Laury earlier this year, called the trading "disappointing"."I am proud to be leading a group with strong assets, excellent market positions, differentiated business models and strong brands," he said."However, it is clear that there is much to do to improve our performance. Kingfisher's trading during Q3 was disappointing. My early assessment is that we have not found the right balance between getting the benefits of group scale and staying close to local markets."Read more: Kingfisher suffers shareholder rebellion over executive payHe added: "We are suffering from organisational complexity, and we are trying to do too much at once with multiple large-scale initiatives running in parallel. Altogether, thi