Share Prices & Company Research

Market News

19 Nov 2020 | 07:02

Kingfisher Q3 sales surge on booming lockdown DIY demand

(Sharecast News) - B&Q owner Kingfisher reported a strong rise in third quarter sales driven by online demand as consumers spent the coronavirus lockdown improving their homes. The company on Thursday said total like-for-like sales for the three months to October 31 rose 17.4% to £3.46bn. Online sales soared 153% and now represented 17% of total group sales compared with 8% last year.

"While the strength of our Q3 performance was reassuring, uncertainty over COVID-19 and the impact of temporary lockdown restrictions in most of our markets continue to limit our near-term visibility," the company said in a trading update.

Like-for-like sales were up 12.6% in the fourth quarter to November 14, largely reflecting the impact of more recent lockdown measures.

Kingfisher also forecast that full year adjusted pre-tax profit would include £175m in temporary cost savings.

Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 15th January 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.