(MENAFN) Europe's biggest home-improvements retailer Kingfisher said that third-quarter sales and profits dipped, hit by tough trade in France and adverse foreign exchange moves, AFP reported.
Total sales declined by 3.6 percent to USD4.4 billion in the 13 weeks to November 1, compared to the same period a year earlier, Kingfisher said in a results statement.
Meanwhile, retail operating profit dropped 11.8 percent to USD279.89 million in the cited period, hit by a USD16.17 million cost from translating overseas profits into sterling.
"Trading conditions in our largest and most significant market, France, were particularly difficult and deteriorated across the quarter, impacted by the weak economic backdrop," chief executive said.
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