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B&Q ensures Kingfisher keeps powering ahead

B&Q owner Kingfisher reported an increase in sales of 17.6% for the third quarter as the DIY boom helped it record sales of £3.5bn.

All of its stores currently remain open and it repaid £23m to the government regarding job retention scheme.

While Kingfisher posted solid gains across all its businesses internationally, B&Q was the best performer with a 23.9% increase in sales at a total of just over £1bn for the quarter.

Commenting on the expectation that the business is well-suited to continue its positive sales momentum was Thierry Garnier, CEO of Kingfisher:

“While there remains considerable uncertainty around COVID-19, we are confident in our ability to operate safely, to serve our customers, to look after our colleagues, and to protect our business.

“Overall, we believe that the renewed focus on homes is supportive for our markets. Furthermore, we are confident that the strategic and operational actions we have taken so far are helping us to build a strong foundation for long-term growth.”

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