Agenda: Asda and Kingfisher report second quarter results

Asda

The value grocer will report its second quarter results on Thursday, August 17.

Asda has been through the mill recently, with its last quarter its 11th consecutive negative period.

The Walmart-owned grocer’s like-for-likes slipped 2.8% although that performance represented a marked improvement when compared to the same quarter last year, when like-for-likes slumped 5.7%.

Observers will be keen to see if Asda can maintain that momentum as the grocery market suffers the effects of Brexit and competitor Tesco continues to engineer a stellar comeback.

Kingfisher

The DIY giant will report its second quarter results on Thursday, August 17.

The Véronique Laury-led business suffered at its last quarter with global like-for-likes falling, although the UK business outperformed other markets, with national like-for-likes up 3.5%.

Within that, trade specialist Screwfix was, as usual, the growth engine. Total sales were up more than 20% while B&Q’s total sales declined.

It’s a time of upheaval for both businesses, with new bosses at each. Christian Mazauric is now running B&Q after Michael Loeve stepped down to run Netto International in Denmark while Graham Bell has become chief executive of trade specialist Screwfix, replacing Andrew Livingston.

The industry will be waiting to hear more from Laury on the progress of her One Kingfisher plan, designed to make the group function as a single unified company rather than a collection of individual businesses, and to see how it is dealing with the threat of rival Bunnings’ assault on the UK market.