Kingfisher plc decline gathers pace as Euro operations weigh on results
Lacklustre European sales appear to be holding back home improvement firm Kingfisher plc (LON:KGF), especially in Europe, where sales slipped back during the first half of this year.
Although UK sales (B&Q and Screwfix) climbed by 4.7% during the first half on a like-for-like basis, these only accounted for 30% of profits last year and will not be enough to prop up the firm’s earnings if its international operations don’t respond to the company’s plan to accelerate price cuts.
In a new article for the Motley Fool this morning, I took a closer look at noted the growing similarities between Kingfisher and that other struggling retailer, Tesco.
You can read the full article by clicking here.
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