Kingfisher reported another big jump in sales in the third quarter as it benefited from the popularity of do-it-yourself (DIY) during the COVID-19 pandemic, though growth slowed in recent weeks due to new lockdown measures.
The home improvement retailer owns B&Q and Screwfix in Ireland and Britain and Castorama and Brico Depot in France and other markets.
It today reported a 17.4% rise in like-for-like sales in the third quarter to October 31, while total sales rose 17.6% on a constant currency basis to £3.5 billion.
But it said growth had slowed to 12.6% in the fourth quarter as of November 14, largely reflecting the impact of recent lockdown measures.
The group cautioned that uncertainty over Covid-19 and the impact of lockdown restrictions in most of its markets was limiting its near-term visibility.
The pandemic has meant people are spending more time at home, have fewer leisure options and are traveling less.
The crisis has also boosted shopping online. Kingfisher's e-commerce sales soared 153% in the third quarter and now represent 17% of total group sales compared to 8% in the same period last year.
"Our growth was supported by strong market demand, as consumers spent more time in their homes and focused on improving them," its chief executive Thierry Garnier said.
Kingfisher said that with Britain's Brexit transition period with the European Union ending on December 31 it has taken measures to mitigate delays at the border as far as possible and to ensure readiness for exporting to Ireland.
