Kingfisher reports online sales boom

Kingfisher has reported that a rise in online sales during its fourth quarter, in the 10 weeks to 9 January, has boosted like-for-like sales by 16.95%.

It comes as the home improvement retail group, which owns brands such as B&Q, revealed e-commerce sales increased by over 150% in its latest Q4 update, as customers responded to lockdown restrictions.

In its latest pre-close trading update, Kingfisher said it was “confident” with the top end of current estimates for profit of £667m-£742m this year.

Thierry Garnier, Kingfisher’s chief executive officer, said: “The safety of our customers and teams remains our first priority while we fulfil the essential needs of our customers.

“We will continue to support our colleagues during these most difficult times, and I want to express my sincere appreciation for all our teams as they continue to operate in such a challenging environment.”

He added: “While the strength of our Q4 trading, to date, is reassuring, uncertainty over Covid-19 and the impact of lockdown restrictions in most of our markets continue to limit our visibility.

“Longer term, we are confident that the strategic and operational actions we are taking are
building a strong foundation for sustainable long-term growth. We also believe that the
renewed focus on homes is supportive for our markets.”