Cloud over Hornbach figures

Hornbach has corrected its sales and profits forecast for the current 2012/2013 financial year (1 March 2012 – 28 February 2013) downward because of the adverse economic environment in Europe. That means the German DIY multiple expects group sales in the full 2012/2013 year to be on the previous year’s level of € 3.2 bn. The original target was sales growth in the lower single-digit percentage area. The more restrained estimate is based on the nebulous state of consumption in the second half of 2012/2013.