Home Business NewsBusiness Kingfisher is still riding the DIY boom

Kingfisher is still riding the DIY boom

by LLB Reporter
19th Nov 21 10:55 am

Lockdown winners were always going to face tough year-on-year comparatives in 2021 and no more so than Kingfisher.

The DIY boom that kicked off in 2020 has had considerable legs and still shows positive momentum. Unfortunately, it’s very hard to grow by a very large amount two years in a row, and so Kingfisher is now lamenting a drop in third quarter like-for-like sales.

“Most companies are comparing their latest takings to those of two years earlier, to see progress from a pre-Covid world to now,” AJ Bell’s Russ Mould said.

“On that basis, Kingfisher is still doing very well. Furthermore, the company’s fourth quarter has got off to a bang and it is guiding for full year profit to be at the higher end of previously guide ranges.

“Supply chain and inflation issues don’t appear to be having any catastrophic impact on the business. Kingfisher says its product pricing remains competitive, and logistics and product availability seem to be under control. So, all things considered, demand remains good and it’s coping with industry-wide pressures, which must be a win in anyone’s books.”

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