Europes's home improvement retailer Kingfisher to exit Russia, Spain and Portugal

It said group like-for-like sales fell 1.3 per cent in the three months to Oct. 31.

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 per cent in the three months to Oct. 31. That compares with a rise of 1.6 per cent in the previous quarter.