Kingfisher misses Q3 forecasts, shares tumble By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 25 2024
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Source: Investing.com
Kingfisher's Q3 Performance: Kingfisher shares fell over 12% after reporting disappointing Q3 results, with total sales of £3.2 billion and like-for-like (LFL) sales down 1.1%, missing analyst expectations across key markets including the UK and France.
Future Challenges and Guidance: The company narrowed its profit forecast for the year due to ongoing economic uncertainties and increased costs, while maintaining a £300 million share buyback plan despite anticipated headwinds from rising taxes and interest costs.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
