Kingfisher PLC (LON:KGF), the B&Q and Screwfix owner, has reported a recovery in sales with all stores in the UK and France now either open or operating a click and collect service.
Revenues rose by 2.7% in the first week of May on a like-for-like basis, the DIY specialist said, compared to a 74% slump at the start of April when coronavirus restrictions fully took hold.
Demand at B&Q and Castorama Poland has been exceptional in May, the FTSE 250-listed firm added, while e-commerce revenues have risen four-fold since mid-March.
Kingfisher started a phased re-opening last month and all 288 B&Q stores are now fully operating, with the 683 Screwfix outlets operating a click and connect service.
In France, all Castorama and Brico Depot outlets have also re-opened and only in Russia and Spain does Kingfisher still have stores closed.
In an update for the three months to April 30, 2020, Kingfisher said sales dropped by 24% to £2.2bn with France seeing a 42% fall and there was a 15% reduction in the UK.
Thierry Garnier, Kingfisher's chief executive, said the group had adapted quickly to the changed trading conditions.
“We started by transforming our operations to meet a material increase in online transactions through our click & collect and home delivery services.
“We reconfigured our retail space and processes, allowing a phased and safe reopening of stores whilst preserving the social distancing and other health & safety protocols that are likely to be with us for some time," he added.