After we disclosed that B&Q prices were increasing, it seems that an about turn has taken place and B&Q prices have been forced to drop.
In an interesting quote from a B&Q General Manager, who admitted that “the decline in sales in general had more to do with weak management and poor customer interaction”…
B&Q customers were also not very happy, when they found out that The new Cooke and Lewis kitchens range were more cheap Chinese made rubbish…
The B&Q prices can drop even lower as most of the products in store are Chinese made with a mark up of over 50%, Plus the carbon footprint on these must be horrendous
B&Q owner Kingfisher today said UK sales had continued to slide as it slashed prices in a “particularly difficult time for consumers”.
The group said B&Q sales declined 5.9% on a like-for-like basis in the 13 weeks to January 31, but this was an improvement on the previous quarter as customers bought more so-called “big-ticket” kitchen and bathroom products.
Heavy discounting shaved £17m off gross margins at the chain, but Kingfisher said this was fully offset by cost savings.
Total revenues at B&Q declined by 5.5% to £825m.
Across the company’s UK division, which also includes the trade business Screwfix, like-for-like sales were down 6.8% and total sales fell 4.2% to £947m.
Filed under: b&q
