Kingfisher (LON: KGF) reported strong sales on Wednesday, leading to the B&Q owner to forecast a rise in half-year profits.
For the quarter to 18 July, the group reported a 21.6% rise in like-for-like sales compared to the same period a year previously.
Kingfisher started reopening stores across the UK and France from mid-April, whilst its click-and-collect and home delivery meant that online sales were consistently 200% higher in May and June.
The company said in a statement: “Our top priority remains ensuring the health and safety of our colleagues and customers, serving our markets as a retailer of essential goods, and protecting our business for the long term.”
“The operational and financial actions we have taken, together with the strong demand for home improvement we are currently seeing, give us a sound footing in the current crisis and beyond,” it added.
“While we are entering the second half with a favourable trading backdrop, second half visibility remains low given uncertainty around COVID-19 and the wider economic outlook.”
Whilst many businesses are announcing wide-scale redundancy plans and axing jobs, Kingfisher said last month that they plan to hire 3,000 to 4,000 employees to cope with the surge in online demand.
Half-year results for the group will be shared in September. The Kingfisher share price (LON: KGF) is trading +10% at 247.70 (0855GMT).
