Kingfisher down year-on-year but up double-digits on 2019 sales

UK-based Kingfisher Group has reported a 5.8 per cent (-4.2 per cent in constant currency, -5.4 per cent in constant currency and like-for-like) year-on-year decline in revenue for the first quarter (ending 30 April 2022) of its 2022/2023 financial year. Turnover amounted to GBP 3.246 bn (EUR 3.840 bn). Compared to the "pre-pandemic" level of three years ago, however, this is 16.2 per cent more in currency and like-for-like terms. E-commerce sales have increased by 164 per cent in that time, and the share of sales has risen from 7 per cent to 16 per cent. The company has published these figures in advance in a trading update.

The currency and like-for-like rates of change compared to the first quarter 2021 in the individual countries are very mixed due to the different lockdown phases:

UK and Ireland: -15.8 per cent
France: -3.7 per cent
Poland: 54.5 per cent
Spain and Portugal: -0.3 per cent
Romania: 13.9 per cent