Annual sales reached 12.3 billion pounds! Kingfisher leads the new trend of DIY decoration

Kingfisher is an international home improvement company with approximately 1,380 stores worldwide and operations in 8 countries in Europe . Kingfisher provides home improvement products and services to consumers and professional sellers who shop in its stores and through its e-commerce channels.

Recently, Kingfisher Group released its 2020 financial report , showing its excellent performance in 2020.

Full-year profits surge 634% on sales of £12.3bn

The financial report shows that in the 12 months ending at the end of January, Kingfisher's full-year pre-tax profit surged to 756 million pounds, an increase of 634% from 103 million pounds in the same period last year , setting a new record.

During the pandemic last year, the long lockdown led to a DIY boom, with people starting to buy a variety of DIY house decoration products to decorate their homes and relieve boredom at home. During this period , its sales increased by 7.2% to £12.3 billion.

At the same time, buying DIY products online has become the main way people shop during the epidemic. Last year, Kingfisher's online sales grew rapidly by 158%, accounting for 18% of the group's total sales, while online clicks and purchases soared by 226%.

Currently, e-commerce is the main growth method for Kingfisher DIY business , which has driven the growth of its overall sales .

Chief Executive Thierry Garnier said: “Kingfisher will emerge from the Covid crisis stronger than ever. Last year, Kingfisher has improved its competitive position in all key markets , with strong new customer growth and rapid e-commerce development. ”

As the epidemic comes to an end, demand for related products will decline

Last year's strong growth is inseparable from the efforts made by Kingfisher in the past year. At present, Kingfisher has completed a fundamental restructuring of its business operation model and launched new trading methods for the local market , such as increasing investment in e-commerce during the epidemic .

Kingfisher owns Castorama and Brico Depot in France and Screwfix in the UK . Therefore, Kingfisher has been showing a growth trend in the UK and France.

The current financial year has also got off to a good start , with strong demand for its DIY home decorations due to the long-term lockdown in the UK and France . Since the end of January, Kingfisher's sales of similar products have increased by more than 24% compared with the same period in 2020.

However, as we are gradually entering the post-epidemic stage, demand for DIY home and garden decoration products may decline. Kingfisher predicts that there will be low double-digit growth in the second half of the year, and sales during this period may be poor.

Kingfisher

Sales

DIY