European home improvement retailer Kingfisher has today lowered the top end of its annual profit outlook as it reported a 1.1% fall in underlying sales for its third quarter, reflecting a weak market and consumer in the UK and France in October.

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Kingfisher lowers top end of annual profit forecast

The DIY giant said consumer spending weakened as a result of uncertainty in the lead up to the autumn Budget statement in the UK.

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Kingfisher, the parent company of B&Q and Screwfix, has reported a slight rise in UK sales and flat global sales in an “uncertain” trading environment.  The company reported overall sales of £3.2bn in the twelve weeks to October 31, flat year on year.  Sales in the UK and Ireland rose 1.2 per cent, driven by 4.6 per cent growth at Screwfix and despite a 1.1 per cent drop in sales at B&Q.  Kingfisher said uncertainty ahead of the Autumn budget ha…

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B&Q and Screwfix owner Kingfisher: UK sales tick up despite budget uncertainty

In their new opera, Johan Bargum and Olli Kortekangas bring a myth from antiquity to our time.

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REVIEW: The Kingfisher is a timeless fairy tale for adults

After Q3 results were posted on Monday (25 November), the Kingfisher (LSE: KGF) share price slumped by 14%. The B&Q owner posted sales in line with its targets, with “improved performance in August and September” in the words of CEO Thierry Garnier. But the firm has to downgrade its full-year outlook, due to “increased consumer uncertainty in the UK and France in October, related to government Budgets in both countries.” The share price had been…

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Kingfisher has lowered its full-year profit guidance after reporting a flat third quarter, as consumer uncertainty in the UK and France weighed on sales. The B&Q and Screwfix owner reported total sales of £3.2bn for the quarter to 31 October, a 0.6% decline, while like-for-like sales slipped 1.1%. While sales performance was solid in August and September, October saw a slowdown, driven by uncertainty in the UK and France related to government bu…

Retail Gazette

B&Q owner Kingfisher narrows profit forecast amid flat sales - Retail Gazette

Kingfisher has lowered its full-year profit guidance after posting flat sales of £3.2bn for the three months ended 31 October, a 0.6% decline. As a result of this, the company expects its adjusted PBT guidance to be in the range of c.£510m to £540m, previously c.£510m to £550m. The B&Q and Screwfix owner stated that its sales performance was solid in August and September. However, October saw a slowdown, driven by uncertainty in the UK and Franc…

Retail Sector

Kingfisher lowers profit guidance amid flat Q3 sales

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Kingfisher shares tumbled on Monday after the owner of DIY chain B&Q narrowed its annual profit forecast and became the latest retailer to warn of a hit from measures announced in the Budget. The FTSE […]

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Kingfisher shares tumble as retailer warns on sales drop and Budget hit – Sky News: The Latest News from the World

The recent downturn in Kingfisher’s stock has sent ripples through the retail and investment landscape, raising eyebrows among analysts and investors alike. With shares plummeting over 13 percent following a sales update that fell short of expectations, the implications for the UK economy and investors are multifaceted and significant. Kingfisher’s revised profit forecast… Source

Kingfisher lowers top end of annual profit forecast

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