LONDON BRIEFING: Kingfisher and easyJet show contrast in Covid impact
Thu, 20th May 2021 08:21
(Alliance News) - DIY store chain Kingfisher on Thursday raised its profit guidance as the pandemic-spurred demand for home-improvement supplies continues.
The positive results contrasted starkly with those of low-cost airline easyJet, which also reported Thursday, showing the uneven economic impact of Covid-19. easyJet sank deeper into loss as it flew only 15% of its capacity due to government restrictions.
Kingfisher said it delivered strong sales growth in the first quarter, with positive momentum continuing into the second quarter.
For the three months to April 30, Kingfisher reported total group sales of GBP3.44 billion, up 64% on a like-for-like basis, supported by strong demand in the UK and France as well as continued e-commerce sales progress.
UK share prices are slumping! Here are 3 of the best stocks I’d now buy Image source: Getty Images.
Investors aren’t quite in panic mode right now. But stock markets across the globe are heading sharply lower again as fears of inflation grow. UK shares haven’t been saved from the washout and, as I type, every company on the
FTSE 100 (except
BT Group) is down in Tuesday trading.
My own UK shares portfolio has taken a stonking hit amid the stampede for the exits. But I’m not throwing my hands up in horror. I look for the best stocks to buy, according to what sort of return I can reasonably expect over the long term. And over a number of years (I buy shares I’d be comfortable to hold for a decade), I’m confident the companies I’ve bought for my Stocks and Shares ISA will make me a big fat profit.