November 21, 2018 / 7:14 AM / a year ago

UK's Kingfisher to exit Russia, Spain and Portugal

LONDON, Nov 21 (Reuters) - Kingfisher, 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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