B&Q saw its like-for-like (lfl) sales dip 1.7% in a ‘challenging’ fourth quarter.
However, Ian Cheshire, the new chief executive of its parent company, Kingfisher, said the store giant had made good progress in the challenging market.
He added: "B&Q finished the year in better shape after the biggest 12 months of change in its history."
B&Q reported total sales of £874m, up 0.2% on a 13 week basis with results from its new format stores described as 'encouraging' with new decorative, bedroom and flooring ranges performing particularly well.
As a whole the group revealed total sales were up 4% to £2.180m (2006/7: £2.083m) despite a 7.5% dive in its Asian markets.
French sales increased 4.3% with the rest of Europe enjoying gains of 14.3% boosted by a strong performance in Poland (up 12.1%).
· For a full report and analysis see the February 29 issue of DIY Week.