Kingfisher France Outperforms The Market

Kingfisher has reported on third quarter trading, covering the three months ended 31st October.

To learn more about Group and UK performance, click here

FRANCE
Total sales +16.6% (LFL +19.2%). LFL sales for the home improvement market (as measured by Banque de France data(9) ) were up 17.7% in Q3. Our LFL sales performance in France has outperformed the market in each of the last five months, driven by ongoing operational improvements, the addition of new local ranges, and the strong performance of our own exclusive brands (‘OEB’) ranges.

• Castorama sales +18.6%. LFL +23.2% reflecting strong demand in all categories, in
particular outdoor, and the success of trading events in the period. Additional Sunday
store openings contributed c.+2% to LFL sales. LFL sales of weather-related categories
were up 43.7%. LFL sales of non-weather-related categories, including showroom, were
up 19.3%. Three stores were closed during Q3 as part of the previously announced store
closure programme, two of which will be converted to Brico Dépôt stores next year.

• Brico Dépôt sales +14.5%. LFL +15.1% reflecting strong demand in all categories (in
particular outdoor and building & joinery), more trading events, and the upweighting of
special promotions (‘arrivages’) as the business continues to strengthen its discounter
credentials.

OTHER INTERNATIONAL

• Poland sales +10.2%. LFL +7.5% reflecting good demand in all categories, with
particular strength in outdoor and surfaces & décor. LFL sales of weather-related
categories were up 13.0%. LFL sales of non-weather-related categories, including
showroom, were up 6.9%. Two new stores were opened during Q3.

• Iberia sales +18.1%. LFL +18.1% reflecting the continued strong demand seen in Spain
following the phased reopening of stores from late May 2020.

• Romania sales +10.6%. LFL +10.6% reflecting good demand across most categories, in
particular outdoor.

As previously announced, Kingfisher completed the sale of Castorama Russia to Maxidom, a leading home improvement company in Russia, on 30 September 2020. Of the total consideration of RUB c.7.4 billion (c.£73 million(3) ), 80% was received at the closing of the transaction. The remaining 20% is to be received in equal instalments over the next two years.

View the full presentation here.

Source : Kingfisher

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