British DIY retailer Kingfisher posted a sales figure of GBP 42 million (EUR 51.66 million) in Romania after the first semester of fiscal year 2014/2015. Kingfisher bought 15 stores from Bricostore last year and at the end of the first quarter reported sales of GBP 16 million (EUR 19.4 million).
Bricostore units generated a total brute sales loss of GBP 6 million (EUR 7.38 million) after the first semester of the fiscal year, a number which includes costs related to refurbishing stores in the Brico Depot format.
The first two stores in the new format where launched in March and the group announced they will accelerate the process for the other 13 stores.
“Reconfiguring the first two stores generated promising results, which is why we will accelerate the process for the other 13 stores, which will be reconfigured by the start of the first quarter in fiscal year 2015/2016. The investment will have an added impact of GBP 6 million on our profit this year”, according to Kingfisher’s financial report.
Kingfisher plc is Europe’s leading home improvement retail group and the third largest in the world, according to the company. It has a network of around 1,050 stores in nine countries in Europe and Asia. Its main retail brands are B&Q, Castorama, Brico Dépôt and Screwfix.