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The week ahead: Kingfisher to report on trading

Kingfisher house

Kingfisher will provide a second quarter trading update on Thursday 16th August.

In Q1, like-for-like sales were down 4%, reflecting the unseasonably cold and wintry weather conditions which impacted footfall and saw temporary store closures.

Veronique Laury, Kinfisher CEO, said of the first quarter:

“It was a challenging start to the year with exceptionally harsh weather across Europe and weak UK consumer demand. This impacted footfall, especially sales of weather related categories. February and March were particularly affected with sales improving over the course of April and into May."

An extended period of good summer weather during Q2 should benefit the home improvement retailer's performance.

Source : Insight DIY Team

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10 August 2018

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