DIY Week: B&Q sales slide, as Screwfix decision to exit German market costs millions; Homebase to close Worle store and downsize Gateshead branch

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B&Q sales slide, as Screwfix decision to exit German market costs millions

In the UK and Ireland, B&Q total sales dropped 3.3% to £1,773million in H1, impacted by the axing of installation services and declines across showroom and weather-related categories. Meanwhile, the closure of all 19 Screwfix outlets in Germany contributed towards an exceptional charge of £68million Kingfisher reported a number of exceptional items for the half year ended July 31, including a £68million restructuring charge relating to redundancy costs following the group’s plans to close 11 stores in France and 19 Screwfix Germany outlets.Speaking to DIY Week last October, Screwfix operations and property director Scot Parsons said of German operations: “It is not on our agenda to do anything progressive with that at the moment. We’re reviewing where we’re at with the German market. At the moment, we have 19 stores in Germany and they are doing ok.”The retailer described financial performance in the half as “mixed”. Screwfix, Poland and Romania delivered like-for-like sales...

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