Kingfisher shares up on positive trading update

Shares at London-based retailers Kingfisher plc (LON:KGF) have bounced more than 2% after the company released an update on its Q4 pre-close trading results.

Despite the “uncertainty” caused by Covid-19 disruption and widespread lockdown disruptions, Kingfisher reported “strong demand across its markets” and continues to project a “strong foundation for sustainable long-term growth”.

Kingfisher, which owns B&Q and Screwfix as well as French equivalents Castorama France and Brico Dépôt, enjoyed a surge in sales across the period from 1 November 2020 – 9 January 2021 (compared against the equivalent period the year prior, from 3 November 2019 – 11 January 2020), with sales up 16.9%.

E-commerce sales were also up a whopping 154.3% in December 2020 compared to the year before, reflecting the impact of lockdown restrictions on consumers’ appetite for DIY and improvements.


The financial year to date (1 February 2020 – 9 January 2021) has seen the firm’s like-for-like sales up 6.5%, while its subsidiary Screwfix is reportedly on track to reach £2 billion of total sales in FY 20/21.

Kingfisher has confirmed that it expects to be “comfortable with the top end of the range of current sell-side analyst estimates for FY 20/21 adjusted profit before tax” based on its recent trading performance.

Commenting on the Kingfisher’s impressive results, Chief Executive Officer Thierry Garnier 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.

“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”.

Kingfisher’s shares were up 2.22% to 285.70p on Tuesday morning 08:39, following a relatively strong year despite the pandemic. Shares have grown 28.51% over the past 12 months – despite a significant dip in the first few months of 2020 as markets grappled with the beginning phases of lockdown – and Kingfisher stock has continued to rise in the New Year even with the announcement of further lockdown restrictions in the UK.