LONDON, Nov 19 (Reuters) - Home improvement retailer Kingfisher on Thursday reported a 17.4% jump in underlying sales over the latest quarter, continuing to benefit from the popularity of do-it-yourself (DIY) during the COVID-19 pandemic.
The group, which owns B&Q and Screwfix in Britain and Castorama and Brico Depot in France and other markets, said its total sales rose 17.6% on a constant currency basis to 3.5 billion pounds ($4.6 billion) in the third quarter to Oct. 31.
It said underlying, or like-for-like, sales were up 12.6% in its fourth quarter so far to Nov. 14, largely reflecting the impact of more recent lockdown measures.
Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.