Upbeat Kingfisher notes rising sales
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Kingfisher, the Woolworths and B&Q retail group, provided further evidence of the recovery in consumer spending yesterday when it issued an upbeat trading statement for its third quarter.
The company said like-for-like sales in the three months to 2 November were 7.5 per cent ahead of the same period last year. Woolworths did well with a 9.4 per cent improvement in comparative sales. Toys have been a good seller with popular items including Buzz Lightyear from the Toy Story Disney movie and the perennial Barbie doll and Action Man. Children's clothing also performed well.
Kingfisher's B&Q DIY division turned in a good quarter with a 12.7 per cent sales increase and Comet, the electrical chain, impressed with a 13.9 per cent advance. Large-screen televisions, personal computers and Dyson vacuum cleaners are among the top sellers.
Superdrug's progress was more pedestrian with a 5.4 per cent like-for- like sales increase.
Worst performer was Darty, the French electrical retailer. Sales there were flat due to the weakness in the French economy.
The market had been expecting good news and Kingfisher shares edged 1.5p higher at 654p.
However, Nick Bubb of Mees Pierson said of the figures: "They're good but I'm a bit surprised the market has taken it so well because, in theory, they should have done a bit better than that."
Mr Bubb is forecasting full-year profits of pounds 375m, and pounds 440m in 1997.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments