Key Highlights

  • Kingfisher plc (LSE:KGF) is in focus on 9 November 2026 ahead of its third-quarter trading update on 24 November.
  • The FTSE 100 retailer raised full-year adjusted pretax profit guidance to £595 million to £635 million in September.
  • Half-year adjusted pretax profit rose 9.9% to £404 million and Screwfix like-for-like sales rose 5.6%.
  • Free Cash Flow guidance was lifted to £480 million to £520 million.
  • The FTSE 100 closed up 1.02% at 10,782.87 on 9 November 2026, helped by lower oil prices and improving sentiment.

Why Kingfisher (LSE:KGF) Is in Focus Today

Kingfisher plc (LSE:KGF), the owner of B&Q, Screwfix, Castorama and Brico Dépôt, is attracting attention on Monday 9 November 2026 as the FTSE 100 recovered 1.02% to 10,782.87. Retailers with exposure to UK and European consumers benefited from lower oil prices, a stronger pound and signs of improving risk appetite after last week's sell-off.

Investors are now looking ahead to the third-quarter trading update on Tuesday 24 November, which will show how the group performed through the autumn peak season and whether the September profit upgrade can be sustained.

September Results and Upgrade

On 22 September, Kingfisher reported adjusted pretax profit of £404 million for the six months to 31 July, up 9.9%, helped by higher gross margins, cost savings and a £14 million Business rates refund. Excluding the refund, profit growth was about 6.1%. Statutory pretax profit rose 18.4% to £400 million, and adjusted Earnings Per Share increased 16.1% to 17.8p.

The group raised full-year adjusted pretax profit guidance to £595 million to £635 million from £565 million to £625 million, and lifted free cash flow guidance to £480 million to £520 million. Shares jumped between 8% and 10% on the day.

Screwfix: The Star Performer

Screwfix delivered like-for-like sales growth of 5.6% in the half and continued to gain Market Share through trade customers, E-commerce and new products. It is also expanding in France, where store like-for-like sales rose strongly and three more openings are planned in the second half to reach 37 stores.

The trade-focused model is less dependent on big-ticket discretionary spending than the consumer DIY side of the business, which gives Kingfisher a more resilient earnings mix.

B&Q and France: The Soft Spots

B&Q like-for-like sales fell 2.9% in the half as consumers delayed bigger home improvement projects, while Brico Dépôt in France also saw lower sales. Castorama France returned to growth in the second quarter, and Poland and Iberia delivered strong results.

Group like-for-like sales were roughly flat for the half, with gross Margin expanding 70 basis points to 38.4%, showing that cost and mix initiatives are compensating for subdued volumes.

Cost Savings and Capital Returns

Management delivered £44 million of structural cost savings in the half and continues to buy back shares. The Interim Dividend was held at 3.8p. A focus on free cash flow and Balance Sheet strength gives Kingfisher flexibility for returns and selective investment.

Valuation remains modest, with analysts describing the shares as undemanding even after the recent rally.

Risks to Consider

Consumer confidence, housing market activity and tax changes in the United Kingdom and France are the main risks. Last year, uncertainty around the Budget hit October trading, and investors will watch whether the same pattern emerges this autumn after the recent Budget and the Bank of England's rate rise.

Tariffs, Inflation in costs and weather can also swing seasonal sales and margins.

Online, Marketplace and Trade Growth

E-commerce sales grew about 11% in the half, and the group's marketplace business is now profitable after only two years. Trade customers through TradePoint and Screwfix represent a growing share of sales, and the group has said that digital and trade initiatives are central to its plan to deliver higher profit with flat sales.

These initiatives help explain why profit has been rising even though like-for-like sales have been subdued, as they lift gross margin and reduce reliance on discretionary consumer spending.

Valuation and Sentiment

Even after a strong share price response to the September upgrade, the shares trade on a modest earnings multiple compared with the wider market and with many retail peers. Some analysts regard Fair Value as only slightly above recent levels, arguing that a lot of the improvement is priced in.

The key debate is whether the group can sustain profit growth through a period of cautious consumers and potential tax rises, while continuing to return cash to shareholders.

What Investors Are Watching Next

On 24 November, the market will focus on third-quarter like-for-like sales by banner, trading in October and early November, and whether the upgraded profit range of £595 million to £635 million is secure. Updates on e-commerce, marketplace profitability and Screwfix expansion will also matter.

Full-year results are scheduled for 23 March 2027. In the meantime, UK retail data, housing indicators and consumer sentiment will influence the shares.