Kingfisher remains in double-digit growth rates in the third quarter

Double-digit growth rates have been reported by Kingfisher for the third quarter (ending 31 October) of its financial year 2020/2021; that applies to almost all countries in which the second largest DIY store group in Europe is active. Overall, sales have risen by 17.2 per cent to GBP 3.463 bn, after adjusting for currency effects by 17.6 per cent, also like-for-like by 17.4 per cent. The increase after adjusting for currency effects in the individual countries: Great Britain and Ireland 21.5 per cent, France 16.6 per cent, Poland 10.2 per cent, Spain and Portugal 18.1 per cent, Romania 10.6 per cent, Russia 5.6 per cent (see detailed table below). E-commerce sales have risen by 152.6 per cent and, in the third quarter, had a share of 17 per cent of the overall group sales. Sales through Click & Collect rose by 216 per cent and made up 77 per cent of the e-commerce sales. In the first two weeks of November, like-for-like sales growth weakened slightly to 12.6 per cent, which is attributed to the lockdown periods in several countries, according to the company. Conversely, online sales have once again moved upwards: by 144.2 per cent in the first and by 155.9 per cent in the second week of November.