Kingfisher sees online sales up over 200%

Kingfisher has seen an increase in second quarter sales due to rising demand in European markets and online.

Group like-for-like sales jumped 21.6 per cent in the three months to 18 July, with store reopenings for its B&Q and Screwfix brands in the UK being matched by “strong” online growth.

However, over the wider six-month period, group like-for-like sales fell by 3.7 per cent. Despite this, Kingfisher said it expects interim profits to be ahead of last year’s figure.

In May, overall like-for-like sales grew 14.3 per cent, with UK and Ireland sales slightly ahead with a 15.5 per cent rise. In June, group sales were up by 25.1 per cent, with UK and Ireland sales for the month growing 25.9 per cent.

Kingfisher’s stores in the UK and France were closed from mid-March due to the lockdown, but Click and Collect and home delivery were available, driving online sales up 202.1 per cent in May and 225.2 per cent in June.

“Based on the strong sales seen to date in the second quarter, combined with cost reductions benefiting H1 - some of which are non-recurring - the company anticipates its half year adjusted pre-tax profit to be ahead of prior year,” read a statement.

“Second half visibility remains low given uncertainty around COVID-19 and the wider economic outlook - as such, no specific financial guidance is provided for the full year 2020/2021."

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