LONDON (dpa-AFX) - Kingfisher Plc. (KGF.L) reported that its group like-for-like sales for the month of February 2020 rose 7.6%, or 2.3% excluding the leap year impact.
In the first two weeks of March 2020, including Saturday 14 March, Group like-for-like sales continued to be positive, with growth across all businesses within core markets, strongly supported by e-commerce sales.
Up to 14 March, the company has experienced no impact on demand from COVID-19, Kingfisher said.
Following the announcement by the French government to close all non-essential places used by the public, effective from midnight on 5 March, all 221 of Kingfisher's Castorama and Brico Dépôt stores in France have closed until and including Tuesday 14 April.
In addition, all 28 stores in Spain have also closed until and including Sunday 29 March, following the government's declaration of a 2-week state of emergency. Kingfisher noted that its remaining more than 1,100 stores across the United Kingdom, Ireland, Poland, Romania, Portugal and Russia remain open.
The company said it is not yet able to predict the impact of COVID-19 on its 2020/21 full year results.
The company said it plans to reduce operating expenditures; stock and goods not for resale purchases. It iis taking actions to optimise working capital, stopping all but essential capital expenditure, and making use of tax payment and other government relief measures.
The company plans to publish its 2019/20 full year results on 24 March 2020.
Copyright RTT News/dpa-AFX
© 2020 AFX News
