Kingfisher posts strong fourth quarter sales growth
Kingfisher, the owner of B&Q and Screwfix, has reported that group like-for-like sales rose by 16.9% in its fourth quarter after trade was boosted by 150% growth in online sales.
While group like-for like sales increased by 11.4% in November, growth accelerated in December to 22.1% due to significantly stronger post-lockdown sales in France where Kingfisher operates the Castorama and Brico Dépôt brands. Meanwhile, like-for-like sales in the UK and Ireland rose by 24% and 20.8% respectively in November and December.
Thierry Garnier, Kingfisher chief executive, said: “While the strength of our Q4 trading, to date, is reassuring, uncertainty over Covid-19 and the impact of lockdown restrictions in most of our markets continue to limit our visibility. Longer term, we are confident that the strategic and operational actions we are taking are building a strong foundation for sustainable long-term growth. We also believe that the renewed focus on homes is supportive for our markets.”
