Kingfisher stumped by June slowdown

LONDON — Kingfisher plc can’t account for the sharp drop in sales it experienced in June, according to Reuters. The company hadn’t expected the second quarter to be as busy as the first, which was buoyed by warm weather, but was caught off guard by the suddenness of the downturn in June, with markets in France and Poland hit especially hard. CEO Ian Cheshire said it was “unclear whether this recent weakness is short term phasing in nature.” At the same time, Kingfisher announced that its deal to buy its smaller rival, France’s Mr Bricolage, had become binding and is entering antitrust evaluations.