Kingfisher 'neutral' ahead of Q1 results next month; DSGi sales grow 8 pct
Kingfisher, owner of B&Q, is expected to perform well in Q1 after Nomura released their latest guidance on the retailer.
"Ahead of 1Q results on 3 June, we update our forecasts and outline our Q1 expectations. Despite a tough seasonal comparative and a promotional environment, we expect B&Q to report a solid 1Q result, with a -3.2 pct LFL but continued self help gross margin gains." the Japanese broker said.
Elsewhere in retail, DSGi - owner of PC World - said that it would make £80-90m profit as it seeks a World Cup boost to lift sales.
However, it will be wary of Best Buy - a major US brand that has opened in UK - as a loss of market share would negatively impact sales.
Overall the Curry's and PC World store owner grew 8 pct with a double digit growth online.
Retail sales overall are rising, though March showed a definite shift in non-food sales outpacing food sales.
Next updates from the National Office of Statistics is due 20 May.
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