Kingfisher sales boosted by e-commerce
Kingfisher has announced that like-for-like sales soared by 21.6% in the quarter ended 18 July, as it continued to experience “strong demand” across its markets.
The B&Q and Screwfix owner said these results reflected “strong” e-commerce growth in the period, as well as a boost from the phased reopening of UK stores since mid-April.
Like-for-like e-commerce sales rocketed by 225.2% between May and June, and by 183.3% in the three weeks to 18 July.
Year-to-date sales were down by 3.7% in the second quarter, however.
Nonetheless, the group expects its half year adjusted pre-tax profit to be ahead of the year prior, based on “strong” Q2 sales and cost-reducing measures.
In a statement, the group said: “Our top priority remains ensuring the health and safety of our colleagues and customers, serving our markets as a retailer of essential goods, and protecting our business for the long term.
“The operational and financial actions we have taken, together with the strong demand for home improvement we are currently seeing, give us a sound footing in the current crisis and beyond.”
It added: “While we are entering the second half with a favourable trading backdrop, second half visibility remains low given uncertainty around Covid-19 and the wider economic outlook. As such, no specific financial guidance is provided for FY 20/21.”
