Screwfix Like-for-Like Sales up by 4.5%

Screwfix continues to go from strength to strength in the UK, reporting a total sales increase of 10.4% (+4.5% LFL) to £802 million, in parent company Kingfisher's half year trading update.

Growth was attributed to three main areas:

- specialist trade desks exclusive to plumbers and electricians 

- strong digital growth of 18% (which includes mobile purchases which were up 43% and a 21% rise in click & collect orders

- the continued roll out of new outlets (21 new outlets were opened in H1, taking the total to 598. Kingfisher has an overall target of around 700 outlets in the UK).

In Germany, where Screwfix operates 19 stores, sales increased by 19.2% (+19.6% LFL) and made an £8 million retail loss (2017/18: £9 million reported retail loss).

Kingfisher states that until it has unified its customer offer, it will have limited store expansion, the focus of which will be Screwfix UK in the medium-term.

Read today's Kingfisher analyst presentation here.

Véronique Laury, Chief Executive Officer, said:

“The extent and pace of change in the retail sector is profound. We saw these changes and acted early. We’re now halfway through our ONE Kingfisher transformation and we are well on our way to becoming a truly customer led, digital, and efficient business.

“Transformation on this scale is tough, and there are challenges that we’re working through. There is still much to do to improve our performance in France and to remove inefficiencies within the business as we continue to transform at pace. I am confident that we have the right plan and the opportunity for Kingfisher is significant.

“Our H1 results reflect a solid performance in the UK and Poland whilst France remains difficult. Looking to the full year we remain on track to deliver our strategic milestones for the third year in a row and have put actions in place to support our performance. The outlook for our main markets continues to be mixed.

“We firmly believe in the transformation plan benefits and maintain our ambition. The environment is making our task more difficult than expected and we will always take the right decisions for the company in the long-term.”

To view the publications in full, follow the links below:

Kingfisher half year results publication - part one

Kingfisher half year results publication - part two 

Source : Insight DIY Team and Kingfisher

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