B&Q owner reports “strong demand”

In the UK & Ireland, Kingfisher Group Q4 sales were up 24% in November and 20.8% in December

13 Jan, 21

Owner of B&Q and Screwfix, the Kingfisher Group has reported Q4 sales increased by 12.6% and it has continued to experience “strong demand”.

B&Q recruits 800 kitchen and bathroom staff 1

 

Group like-for-like sales for Q4 20/21 sales (up to January 2021) had increased by 16.9% , supported by e-commerce sales growth of over 150%.

For the financial year to date (February 1 2020-January 9, 2021) group sales are up 6.5%.

In the UK & Ireland, Kingfisher Group Q4 sales were up 24% in November and 20.8% in December.

As an essential retailer, the B&Q network of around 1.380 stores remains open for in-store purchasing and click and collect.

However B&Q kitchen and bathroom showrooms are closed, in line with Government requirements, with only virtual design appointments available

In addition, growth at Screwfix accelerated from November and, according to the Kingfisher Group, it is on track to reach £2billion total sales in 20/21.

It follows on from the group’s “resilient” first half performance in 2020, buoyed by “strong demand” in Q2.

Chief executive officer of the Kingfisher Group Thierry Garnier said although the trading was “reassuring” there was still uncertainity how COVID-19 would affect sales.

He commented: “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.

“We look forward to providing a more detailed update within our FY 20/21 results on 22 March 2021.”