Kingfisher’s Q1 trading performance was stronger than ours as well as the market’s expectations. The Group’s lfl sales of -3.3% yoy was 140bp ahead of the consensus, mainly attributable to the UK&I (-0.8% yoy; +150 bp vs consensus). The impact of the adverse weather conditions and strikes in France are non-structural issues. The management has announced a better-than-expected start to Q2 and has also stated that it is comfortable with the current profit consensus. We maintain our positive stock ....
24 May 2023
Q1 trading: momentum led by the UK & Ireland
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Q1 trading: momentum led by the UK & Ireland
Kingfisher Plc (KGF:LON) | 245 -6.4 (-1.0%) | Mkt Cap: 4,593m
- Published:
24 May 2023 -
Author:
Nishant Choudhary -
Pages:
4
Kingfisher’s Q1 trading performance was stronger than ours as well as the market’s expectations. The Group’s lfl sales of -3.3% yoy was 140bp ahead of the consensus, mainly attributable to the UK&I (-0.8% yoy; +150 bp vs consensus). The impact of the adverse weather conditions and strikes in France are non-structural issues. The management has announced a better-than-expected start to Q2 and has also stated that it is comfortable with the current profit consensus. We maintain our positive stock ....