LONDON (dpa-AFX) - Kingfisher Plc. (KGF.L) reported that its group like-for-like sales for the fourth-quarter rose 1.7% in constant currency, reflecting operational improvements in France and the implementation of a new trading approach across the Group, including reintroducing trading events.
But, group sales for the fiscal year 2019/20 declined 1.5 percent from last year, while it was down 0.8 percent in constant currency.
Group like-for-like sales for the year were down 1.5 percent in constant currency.
As at 20 March 2020, Kingfisher had cash and cash equivalents of 1.1 billion pounds. In light of the unprecedented uncertainty caused by COVID-19, the Board will not propose a final dividend in relation to fiscal year 2019/20.
The company decided to close temporarily all its 221 stores from 15 March in order to comply with the 15-day confinement period announced by the French government. Its ecommerce websites remain open for home delivery across France. In addition, from today, a large number of our stores will start to offer click & collect services via 'drivethrough', the company said.
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.
Copyright RTT News/dpa-AFX