Kingfisher Clocks Further Transformation in Fiscal 2019, as ONE Kingfisher Plan Execution Continues
With the outlook for the year ahead uncertain at narrow-moat Kingfisher, we think there could be some headwinds that hinder overall profitability before tailwinds from the ONE Kingfisher program begin to pay off. Uncertainty in the U.K. market and volatility in France, which together account for about 80% of total sales, keep Kingfisher on a low-single-digit sales trajectory, in line with the 2% we had previously modeled over the forward five years. Additionally, as the company continues to rati...Kingfisher supplies home improvement products and services through a network of retail stores and other channels, located mainly in the U.K. and continental Europe. As of Jan 31 2017, Co. had nearly 1,200 stores in 10 countries across Europe.
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