9 Weeks Sales Figures - Growth of 6.0%

Kingfisher PLC 11 January 2000 Trading statement for 9 weeks ended 1 January 2000 KINGFISHER REPORTS CHRISTMAS LIKE-FOR-LIKE SALES GROWTH OF 6.0% Kingfisher plc, the European retail group, today reports like-for-like sales growth of 6.0% over the nine weeks ended 1 January 2000, with each of its sectors experiencing sales growth against the comparable period a year earlier. The group's total sales in the period were £2.59bn (Euro 3.94bn) a 30.8% increase on the previous year. This reflected growth from acquisitions and new stores as well as the underlying like-for-like sales increases, and was achieved despite the loss of a key trading Saturday on 1 January 2000. Commenting on the figures, Kingfisher's Chief Executive Sir Geoffrey Mulcahy said: ' We are pleased with our performance during this important 9 week period. It demonstrates that our stores are fulfilling the needs of our customers by offering better value, service and choice and justifies the increased investment undertaken during the year. ' We are taking advantage of the opportunities presented by the rapidly changing retail environment with a further acceleration of our development plans. This has resulted in additional significant costs being incurred in the last few months. We are investing heavily in e-commerce and other new channels throughout the Group, and expect our revenue costs in this area to exceed £21m in the current year. ' In addition we have continued to invest in measures that will drive through operational efficiencies as well as in new format stores such as Comet, B&Q, Big W in the UK and Promarkt in Germany. This investment will ensure that Kingfisher brands can continue to build on their strengths and remain in the vanguard of future retail developments. Kingfisher's commitment to delivering real value for our customers has resulted in some margin pressure in parts of our business. However, we remain confident of achieving the demanding medium term targets we have set ourselves.' Sector highlights and developments DIY: B&Q, the market leader in the UK, increased sales by 30.2%. Key drivers to this sales uplift were the full impact of the eight Warehouses opened earlier in the year and strong like-for-like growth of 11.9%. Like-for-like sales growth was driven by a combination of higher customer numbers, particularly in Warehouse, and higher average item values. Warehouse sales grew by 50%, and accounted for 37% of total sales during the period. Despite four Supercentre closures since last year, Supercentre sales grew by 11% year on year. Castorama, excluding B&Q, saw like-for-like sales growth of 7% on a proforma basis, with particularly good performance being achieved by Brico Depot due to strong sales in all categories. Electrical: Darty, the market leader in France, increased like-for-like sales by 11.1%. Driving this growth were strong volume sales of PC's, mobile phones, and vision, enhanced by a significant increase in sales of accessories. Comet, which introduced its new EDLP pricing policy on 1 October, increased sales by 12.8%, driven by like-for-like sales ahead by 6.2%, growth from new stores, major refits, and call centre sales. Like-for-like sales growth was particularly strong in small appliances, vision, and accessories but with both multi-media and electronics suffering declines. General Merchandise: At Woolworths, sales increased by 7.3%, of which just over half emanated from new stores opened during the year. Like-for-like sales growth was 3.1%, a creditable achievement in a difficult trading environment and against a strong similar period in the previous year, driven by sales gains in mobile phones, music and video, and confectionery. Sales via complementary channels, although a small proportion of the total, were well ahead of expectation, and the Woolworths internet site was launched on 9 December. Superdrug, the health and beauty specialist, achieved a like-for-like sales increase of 0.6%. Although the general market remains difficult with low volume growth and price deflation, progress was achieved as a result of continued strong growth in pharmacy and in key areas such as ladies gifts, skin care, and cosmetics. Sir Geoffrey Mulcahy will be hosting a telephone conference call for analysts at 07:30 (London time) today to provide a further background to this statement. Those wishing to participate should telephone 01296 480100 and quote the access code 2627 from 07:20 onwards. For further information Kingfisher plc +44 (0) 20 7724 7749 Website address www.kingfisher.co.uk Media Enquiries Gwen Gober, Director of Corporate Affairs +44 (0) 20 7725 5714 Broker and Institutional Enquiries Keith Williams, Director of Investor Relations + 44 (0) 20 7725 5776 CHRISTMAS TRADING STATEMENT Sales for the 9 week period ended 1 January 2000 1999/00 1998/99 % % Like- (Wk 40-48) (Wk 40-48) increase for-like £m Euro m £m Euro m B&Q ** + 395.8 602.7 304.0 462.9 30.2% 11.9% Castorama 344.9 525.2 n/a n/a n/a n/a DIY sector 740.7 1,127.9 304.0 462.9 143.7% 11.9% Darty * 276.9 421.7 266.6 406.0 3.9% 11.1% Comet 265.8 404.8 235.7 358.9 12.8% 6.2% Other Electricals *** + 310.8 473.3 257.2 391.7 20.8% 5.8% Electrical sector 853.5 1,299.8 759.5 1,156.6 12.4% 8.0% Woolworths 666.8 1,015.4 621.2 946.0 7.3% 3.1% Superdrug 189.6 288.7 184.4 280.8 2.8% 0.6% Other **** + 137.6 209.5 110.4 168.1 24.6% 0.6% General Merchandise 994.0 1,513.6 916.0 1,394.9 8.5% 2.5% sector Total Group 2,588.2 3,941.3 1,979.5 3,014.4 30.8% 6.0% Local Currency Darty (FFRm) 2,843.7 2,494.7 14.0% 11.1% The like-for-like increases are shown at constant exchange rates Euro comparisons are at a constant exchange rate (1.5228) * All store sales were lower by £(41.0)m as a result of translation into sterling of which £(23.7)m related to Darty. ** Includes NOMI, Screwfix and B&Q Shanghai. *** Comprises Wegert, BUT, BCC, New Vanden Borre and Electric City **** Comprises Entertainment UK, MVC and VCI (Entertainment UK and VCI not included in LFL increase) + Sales from Wegert, BUT, NOMI, VCI and B&Q Shanghai are for the quarter ended 31 December 1999 CHRISTMAS TRADING STATEMENT Sales for the 48 week period ended 1 January 2000 1999/00 1998/99 % % Like- (Wk 1-48) (Wk 1-48) increase for-like £m Euro m £m Euro m B&Q ** + 2,174.5 3,311.3 1,770.2 2,695.7 22.8% 8.4% Castorama 2,034.0 3,097.4 n/a n/a n/a n/a DIY sector 4,208.5 6,408.7 1,770.2 2,695.7 137.7% 8.4% Darty * 1,062.4 1,617.8 1,020.3 1,553.7 4.1% 4.7% Comet 886.0 1,349.2 785.3 1,195.9 12.8% 5.8% Other Electricals *** + 983.2 1,497.2 449.3 684.2 118.8% 5.7% Electrical sector 2,931.6 4,464.2 2,254.9 3,433.8 30.0% 5.3% Woolworths 1,752.8 2,669.2 1,667.4 2,539.1 5.1% 2.5% Superdrug 784.9 1,195.2 743.3 1,131.9 5.6% 3.4% Other **** + 346.4 527.5 269.3 410.1 28.6% 2.0% General Merchandise 2,884.1 4,391.9 2,680.0 4,081.1 7.6% 2.8% sector Total Group 10,024.2 15,264.8 6,705.1 10,210.6 49.5% 5.2% Local Currency Darty (FFRm) 10,656.9 9,890.3 7.8% 4.7% The like-for-like increases are shown at constant exchange rates Euro comparisons are at a constant exchange rate (1.5228) * All store sales were lower by £(50.4)m as a result of translation into sterling of which £(34.3)m related to Darty. ** Includes NOMI, Screwfix and B&Q Shanghai. *** Comprises Wegert, BUT, BCC, New Vanden Borre and Electric City **** Comprises Entertainment UK, MVC and VCI (Entertainment UK and VCI not included in LFL increase) + Sales from Wegert, BUT, NOMI, VCI and B&Q Shanghai are for the period ended 31 December 1999 CHRISTMAS TRADING STATEMENT Pro-Forma - at constant exchange rates and assuming all businesses owned by Kingfisher throughout both years Sales for the 9 week period ended 1 January 2000 1999/00 1998/99 % % Like- (Wk 40-48) (Wk 40-48) increase for-like £m Euro m £m Euro m B&Q ** + 395.8 602.7 311.4 474.2 27.1% 12.4% Castorama 344.9 525.2 306.1 466.1 12.7% 7.0% DIY sector 740.7 1,127.9 617.5 940.3 20.0% 9.7% Darty 276.9 421.7 242.9 369.9 14.0% 11.1% Comet 265.8 404.8 235.7 358.9 12.8% 6.2% Other Electricals *** + 310.8 473.3 239.2 364.3 29.9% 7.6% Electrical sector 853.5 1,299.8 717.8 1,093.1 18.9% 8.4% Woolworths 666.8 1,015.4 621.2 946.0 7.3% 3.1% Superdrug 189.6 288.7 184.4 280.8 2.8% 0.6% Other **** + 137.6 209.5 123.3 187.8 11.6% 0.6% General Merchandise 994.0 1,513.6 928.9 1,414.6 7.0% 2.5% sector Total Group 2,588.2 3,941.3 2,264.2 3,448.0 14.3% 6.4% Euro comparisons are at a constant exchange rate (1.5228) ** Includes NOMI, Screwfix and B&Q Shanghai. *** Comprises Wegert, BUT, BCC, New Vanden Borre and Electric City **** Comprises Entertainment UK, MVC and VCI (Entertainment UK and VCI not included in LFL increase) + Sales from Wegert, BUT, NOMI, VCI and B&Q Shanghai are for the quarter ended 31 December 1999 CHRISTMAS TRADING STATEMENT Pro-Forma - at constant exchange rates and assuming all businesses owned by Kingfisher throughout both years Sales for the 48 week period ended 1 January 2000 1999/00 1998/99 % % Like- (Wk 1-48) (Wk 1-48) increase for-like £m Euro m £m Euro m B&Q ** + 2,174.5 3,311.3 1,826.8 2,781.9 19.0% 8.5% Castorama 2,034.0 3,097.4 1,847.0 2,812.6 10.1% 4.9% DIY sector 4,208.5 6,408.7 3,673.8 5,594.5 14.6% 6.7% Darty 1,062.4 1,617.8 985.9 1,501.3 7.8% 4.7% Comet 886.0 1,349.2 785.3 1,195.9 12.8% 5.8% Other Electricals *** + 983.2 1,497.2 832.8 1,268.2 18.1% 1.7% Electrical sector 2,931.6 4,464.2 2,604.0 3,965.4 12.6% 4.0% Woolworths 1,752.8 2,669.2 1,667.4 2,539.1 5.1% 2.5% Superdrug 784.9 1,195.2 743.3 1,131.9 5.6% 3.4% Other **** + 346.4 527.5 312.0 475.1 11.0% 2.0% General Merchandise sector 2,884.1 4,391.9 2,722.7 4,146.1 5.9% 2.8% Total Group 10,024.2 15,264.8 9,000.5 13,706.0 11.4% 4.8% Euro comparisons are at a constant exchange rate (1.5228) ** Includes NOMI, Screwfix and B&Q Shanghai. *** Comprises Wegert, BUT, BCC, New Vanden Borre and Electric City **** Comprises Entertainment UK, MVC and VCI (Entertainment UK and VCI not included in LFL increase) + Sales from Wegert, BUT, NOMI, VCI and B&Q Shanghai are for the period ended 31 December 1999

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