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Kingfisher pushes forward with expansion Thursday, 15th September 2011
The B&Q owner managed to beat first-half earnings forecasts despite tough trading.
Spurred on by a drive to improve profit margins, Kingfisher Plc. said profit before tax and one-off items jumped 24 per cent to £439 million, outstripping an average forecast of £409 million in a company poll of 14 analysts.
The group, which also owns Castorama and Brico Depot said strong growth in France was complemented by a lift to profit margins from the business’ drive to buy more goods centrally, and directly, from cheaper manufacturing centres such as Asia.
Kingfisher went onto confirm plans for expansion, which will see the group focus on building its trade-focusssed Screwfix brand, creating 1,200 jobs in Britain this year and spending £130 million on new stores.
E-commerce spending for Q2 rises 14% Wednesday, 10th August 2011
New figures released by comScore show estimates for online sales now standing at USD 37.5 billion for the second quarter of 2011.
The results show a 14 per cent increase over 2010 and the seventh consecutive quarter to report positive growth.
comScore was keen to point out the increase in usage does not necessarily mean an increase in per capita spending as the report notes the number of internet buyers rose 16 per cent.
“Almost USD 1 in every USD 10 of discretionary spending is now occurring online,” said comScore chairman Gian Fulgoni in the report. “With economic growth remaining soft, the unemployment rate stubbornly high and financial markets in turmoil, consumers are less optimistic today than they have been in preceding quarters, which raises concerns for the future. We believe the third quarter will be an important indicator of which direction this economy is really headed and what that will mean for consumer spending.”
Consumer electronics, computer hardware and software grew at least 15 percent each versus last year’s figures.