Kingfisher Q3: France Growth Ahead Of The Market

Kingfisher plc has published its Q3 trading update, advising of sales of £3.2 billion; LFL(1) down 2.4% and 2-year LFL(2) up 15.0% 19 November 2021.

To view the full results, including UK and Ireland, click here.

FRANCE
Total sales -4.1% (LFL -4.3%; 2-year LFL +14.1%). France continues to grow sales ahead of the market in Q3, driven by strong performances at both banners, with an outperformance of nearly 3 percentage points on a 2-year basis. LFL sales for the home improvement market (as measured by Banque de France data(9)) in Q3 were +11.3% on a 2-year basis.

Castorama sales -6.8%. LFL -6.1% (2-year LFL +15.7%) reflecting resilient demand against the backdrop of very strong prior year comparatives.

− Strong 2-year performance in outdoor, building & joinery and kitchen categories.
− LFL sales of weather-related categories were down 6% (up 27% on a 2-year LFL basis). LFL sales of non-weather-related categories, including showroom, were down 7% (up 14% on a 2-year LFL basis).

Brico Dépôt sales -1.0%. LFL -2.3% (2-year LFL +12.4%), reflecting continued focus on strengthening its discounter credentials and differentiated ranges.

− Strong 2-year performance in building & joinery and outdoor categories.

OTHER INTERNATIONAL

• Poland sales +10.0%. LFL +4.9% (2-year LFL +12.7%).

− Strong 2-year performance in all categories, in particular the new OEB kitchen range.

− LFL sales of weather-related categories were up 6% (up 19% on a 2-year LFL basis). LFL sales of non-weather-related categories, including showroom, were up 4% (up 12% on a 2-year LFL basis).

− Opened two new stores in Q3, including one medium-box and one compact store.

• Iberia sales -1.9%. LFL -1.9% (2-year LFL +15.9%), with resilient demand against strong prior year comparatives.

• Romania sales +14.6%(4). LFL +17.2% (2-year LFL +29.2%) reflecting strong demand, in particular across the EPHC (electricals, plumbing, heating & cooling), outdoor and building & joinery categories. 

Source : Kingfisher

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