Kingfisher reports 17.6% sales growth in Q3

Kingfisher has announced that sales rose by 17.6% to £3.5bn in the third quarter ended 31 October.

In light of the return of regional and national lockdowns across the UK, ecommerce sales soared by 153% in the period, which contributed towards 17% of the group’s overall sales.

The B&Q owner saw a “strong” performance across all retail brands, with footfall and average transaction value also rising over the period. Like-for-like sales at B&Q increased by 19.9% in the third quarter, with Screwfix like-for-like sales up by 24%.

CEO Thierry Garnier said: “We achieved strong sales growth in Q3 across all retail banners and categories, with higher footfall and average transaction value. Our growth was supported by strong market demand, as consumers spent more time in their homes and focused on improving them.

“At the same time, we have made good progress against our ‘Powered by Kingfisher’ strategic priorities – the early benefits of which are enabling us to meet the current strong demand, both in-store and online, and grow our share in key markets.” 

He added: “During the period we also furthered our commitment to supporting our communities. We continued to create jobs in our stores; we continued to make donations to charity partners and health authorities; and earlier this month we repaid £23 million received in the first half of the year under the UK government’s furlough programme. 

“While there remains considerable uncertainty around COVID-19, we are confident in our ability to operate safely, to serve our customers, to look after our colleagues, and to protect our business.”

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