Kingfisher (KGF)

Sector:

Retailers

Index:

FTSE 100

278.10p
   
  • Change Today:
    -0.90p
  • 52 Week High: 334.60p
  • 52 Week Low: 203.00p
  • Currency: UK Pounds
  • Shares Issued: 1,940.03m
  • Volume: 4,446,065
  • Market Cap: £5,395m
  • RiskGrade: 158

Kingfisher Q3 sales fall 3.2% in 'disappointing' performance

By Frank Prenesti

Date: Wednesday 20 Nov 2019

LONDON (ShareCast) - (Sharecast News) - DIY group Kingfisher reported a "disappointing" 3.2% fall in third quarter sales in softer markets as the company's chief executive said it was suffering from "organisational complexity" that ignored customers.
Total sales fell to down 3.2% to £2.95bn on a constant currency basis. On a like-for-like basis the decrease was 3.7% reflecting continuing disruption from new range implementations, lower promotional activity and ongoing operational challenges in France.

It maintained its forecast for a flat gross margin for 2019-20.

"My early assessment is that we have not found the right balance between getting the benefits of group scale and staying close to local markets. We are suffering from organisational complexity, and we are trying to do too much at once with multiple large-scale initiatives running in parallel," said chief executive Thierry Garnier, who was brought in to turn the company's fortunes around.

"Altogether, this has brought disruption to sales and has distracted the business from focusing on customers. In addition, we faced softer market conditions in our main markets during the period."

Like-for-like sales dropped 6.1% in France and were down 1% in the UK and Ireland, where Screwfix provided the only bright spot, with a 3.7% rise on a like-for-like basis.

Kingfisher said initiatives to improve Castorama France's performance were underway, focusing on IT effectiveness and supply chain efficiency.

"This includes stopping or pausing a number of initiatives to concentrate on stabilising performance and trading. The effect of these changes will not be immediate," Garnier said.



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Kingfisher Market Data

Currency UK Pounds
Share Price 278.10p
Change Today -0.90p
% Change -0.32 %
52 Week High 334.60p
52 Week Low 203.00p
Volume 4,446,065
Shares Issued 1,940.03m
Market Cap £5,395m
RiskGrade 158

Kingfisher Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
17.57% above the market average17.57% above the market average17.57% above the market average17.57% above the market average17.57% above the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average
Price Trend
32.69% above the market average32.69% above the market average32.69% above the market average32.69% above the market average32.69% above the market average
30.43% above the sector average30.43% above the sector average30.43% above the sector average30.43% above the sector average30.43% above the sector average
Income
67.22% above the market average67.22% above the market average67.22% above the market average67.22% above the market average67.22% above the market average
53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average
Growth
38.60% above the market average38.60% above the market average38.60% above the market average38.60% above the market average38.60% above the market average
4.55% above the sector average4.55% above the sector average4.55% above the sector average4.55% above the sector average4.55% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 10
Sell 5
Strong Sell 2
Total 18
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Kingfisher Dividends

  Latest Previous
  Interim Final
Ex-Div 06-Oct-22 19-May-22
Paid 11-Nov-22 27-Jun-22
Amount 3.80p 8.60p

Trades for 01-Feb-2023

Time Volume / Share Price
16:45 550 @ 279.00p
16:45 550 @ 279.00p
16:35 2,839,376 @ 278.10p
16:35 15,699 @ 278.10p
16:35 1,750 @ 278.10p

Kingfisher Key Personnel

Chair Andrew Cosslett
CEO Thierry Garnier
CFO Bernard Bot

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