1013 GMT - Kingfisher seems to be stuck in reverse gear amid the current fragile retail environment, AJ Bell's Russ Mould says in a note. "The market reaction to the figures was one of utter disappointment," he says. The home-improvement retailer reported sales of 12.78 billion pounds for fiscal 2025, 1.7% lower on year on a like-for-like basis, while adjusted pretax profit fell 7% to 528 million pounds. Furthermore, guidance for fiscal 2026 includes a wide profit range, the bottom end being worse than that achieved in the past year, Mould says. The company said government budgets in the U.K. and France have raised costs for retailers and hurt consumer sentiment. "Kingfisher is broken and something has to change fast," the analyst says. Shares fall 11%. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
March 25, 2025 06:13 ET (10:13 GMT)
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