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Kingfisher to exit Russia, Spain and Portugal

Kingfisher to exit Russia, Spain and Portugal
FILE PHOTO: A B&Q store is seen in London, Britain March 31, 2015. REUTERS/Stefan Wermuth/File Photo -
Stefan Wermuth(Reuters)
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LONDON (Reuters) - Kingfisher <KGF.L>, Europe's second largest home improvement retailer, said on Wednesday it would exit Russia, Spain and Portugal so it can focus on markets where it has, or can reach, a market leading position.

The group, which trades as B&Q and Screwfix in Britain and Castorama and Brico Depot in France and elsewhere, also reported a fall in underlying sales in its third quarter.

It said group like-for-like sales fell 1.3 percent in the three months to Oct. 31. That compares with a rise of 1.6 percent in the previous quarter.

(Reporting by James Davey; editing by Kate Holton)

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