Kingfisher’s Q3 trading sales were slightly ahead of our estimates. The company continued to gain market share and has also made a promising start to Q4 (+0.4% lfl up to 13 November). However, the stock slipped post the results as the FY21/22 outlook upgrade was disappointing, considering the momentum of company’s ytd performance. We do not see any structural issue with the business model and maintain the stock recommendation.
19 Nov 2021
Decent Q3 performance; outlook below expectations
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Decent Q3 performance; outlook below expectations
Kingfisher Plc (KGF:LON) | 248 -3 (-0.5%) | Mkt Cap: 4,645m
- Published:
19 Nov 2021 -
Author:
Nishant Choudhary -
Pages:
3
Kingfisher’s Q3 trading sales were slightly ahead of our estimates. The company continued to gain market share and has also made a promising start to Q4 (+0.4% lfl up to 13 November). However, the stock slipped post the results as the FY21/22 outlook upgrade was disappointing, considering the momentum of company’s ytd performance. We do not see any structural issue with the business model and maintain the stock recommendation.