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The week ahead: ASDA and Kingfisher to report on trading

B&Q Farnborough 725 x 500

ASDA and Kingfisher both report on trading this week.

ASDA will report on second quarter trading on Thursday: the first update under the leadership of Sean Clarke, who moved from Walmart's Chinese business a month ago. The latest trading update showed like for like sales had declined by 4.7% in the year to 1st January, with Q4 sales down 5.8%.

Thursday will also see Kingfisher - owner of B&Q and Screwfix in the UK - update on second quarter trading.  In Q1, Kingfisher reported a 3.6% rise in LFL sales to £301m, fueled by a 16.2% rise in LFL sales at Screwfix.  

Analysts expect that Kingfisher will post solid sales growth of around 3%, with an anticipated 10% rise at Screwfix.

Jeffries' broker James Grzinic said: "We expect another good update from B&Q. This was likely helped by the benefit from store closures and also the net loss of share by Homebase."

Source : Insight DIY

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14 August 2016

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