|Bid||146.35 x 0|
|Ask||146.65 x 0|
|Day's range||143.10 - 166.15|
|52-week range||1.01 - 194.55|
|Beta (5Y monthly)||0.79|
|PE ratio (TTM)||16.78|
|Forward dividend & yield||0.11 (6.38%)|
|Ex-dividend date||03 Oct 2019|
|1y target est||N/A|
B&Q shut its doors but many employers continue to tell staff to come into work despite fears for their health over the coronavirus.
(Bloomberg Opinion) -- You really can’t blame Mike Ashley for trying.The billionaire founder of Frasers Group Plc tried to keep his sporting goods stores open, arguing that they provided essential supplies of fitness equipment to self-isolating Britons. The retailer has since made a U-turn, closing its Sports Direct and Evans Cycles stores on Tuesday as the U.K.’s nationwide lockdown took effect.Ashley may be everyone’s favorite pantomime villain — and his brash attempt to keep stores open prompted a backlash from politicians — but as usual, the entrepreneur isn’t totally off point. People around the world are asking themselves exactly what they may need to stay healthy and sane as they hunker down at home to ride out the coronavirus crisis.There seems to be some logic missing in the categories that the British government has deemed essential and non-essential. Some are obvious: supermarkets and pharmacies, for example, should stay open. Clothing shops are clearly far less necessary. Many, including Next Plc, Arcadia Group Ltd.’s Topshop and Primark, the budget fashion chain owned by Associated Foods Plc, had already closed their doors.But other categories are more ambiguous. Why are bicycle shops deemed more essential than electronics and home appliance retailers? Dixons Carphone Plc was among the chains lobbying to be given essential status. The group has now shuttered stores. (Frasers closed Evans Cycles anyway while seeking more clarity from the government.)The government argues that bicycle shops are crucial to help workers get around while avoiding public transport. But surely with many Britons now forced to work from home, it’s also imperative for people to be able to buy computer and phone gear they didn’t know they really needed until now. If they’re out buying food, shouldn’t they be able to buy a cable or a printer too? And what if the washing machine breaks? Many large electronics and appliance stores are conveniently located in the same retail parks as supermarkets.True, people can order via the internet, and many sales will indeed migrate to this channel. But there is a danger that with so many online orders for essential items, delivery capacity for anything else won’t be able to keep up.And filling one’s virtual supermarket shopping cart with things like an extension cord or two, in order to collect it from their local store, risks putting more pressure on staff who are busy filling shelves with staple items and keeping up with an influx of panic-buyers.Kingfisher Plc, which owns B&Q in the U.K. and Castorama in France, has closed its U.K. DIY estate while it looks to find the best ways to still provide essential items. Its Screwfix business, which serves tradesmen, has moved to “click and collect” only. That may be a model worth trying to alleviate some of the issues created by the lockdown, as well as opening only a limited number of stores as Halfords Plc is set to do. This could ensure much needed goods are available while discouraging shopping sprees.The debate about the right approach to take comes as retailers are facing a catastrophic loss of trade. Trying to do everything to salvage some sales is only logical. Especially as the shutdown could not have come at a worst time with quarterly rent payments due tomorrow.Of course retailers that do stay open must be conscious of protecting not only customers, by respecting social distancing best practices, but also their own staff, who need gloves and masks for example. At some point the virus will abate, and chains will want to emerge with their reputation in tact.But it’s a difficult balance to strike. And it is one that chains in the U.S. are facing as well as the virus case count increases there, although many companies, including Nike Inc., Apple Inc. and L Brands Inc.’s Bath & Bodyworks, have already closed their stores.It’s important the government help British chains find the equilibrium they need to weather this crisis.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Primark, the budget fashion chain owned by Associated British Foods Plc, has closed all of its stores due to the spread of the coronavirus, which will strip 650 million pounds ($760 million) from revenue each month the shops are shut.Primark had closed 20% of its selling space as of March 16, and on Sunday it shut all stores in the U.K., which generate 41% of its revenue. Separately, Kingfisher Plc said it won’t pay a final dividend and has closed all stores in France and Spain.Key InsightsPrimark contributes more than half of AB Food’s profits, so this will hobble the company. The next step is cost cutting, and Primark is in talks with landlords and is reviewing all spending.This will put a shock on suppliers, as Primark has stopped making any new orders. A slight balm is that the company said it hasn’t seen any material effect from the pandemic on its sugar, grocery, ingredients and agriculture businesses.British clothing chain Next Plc also announced plans to close all U.K. stores temporarily, as did Greggs, the bakery and food-to-go retailer. Next’s online business remains open.Kingfisher delayed its full-year results for two weeks at the request of the Financial Conduct Authority.Market ReactionAB Foods fell more than 7%. Kingfisher rose 14%.Get MoreFor more on ABF’s report, click here.For Kingfisher, click here.(Updates with Next and Greggs store closures)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Stagecoach, Go-Ahead, Kingfisher, and ITV were among 10 UK listed firms who collectively slashed shareholder dividends by more than £500m.
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Home improvement group Kingfisher and soft drinks firm A.G. Barr said on Monday they would delay publication of their full-year results for at least two weeks, heeding a call from the financial markets regulator on Saturday. Britain's Financial Conduct Authority said listed companies planning to report over the next few days should hold off so that they could better assess how the coronavirus pandemic is affecting their business. Kingfisher said it had received a letter from the FCA on Sunday requesting a delay to the results announcement, which had been due to come on Tuesday.
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To the annoyance of some shareholders, Kingfisher (LON:KGF) shares are down a considerable 34% in the last month...
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(Bloomberg) -- Kingfisher Plc’s demotion from the FTSE 100 index provides the latest sign of the mounting challenges facing Britain’s traditional brick-and-mortar retailers.The owner of Britain’s B&Q and France’s Castorama chains will join former U.K. retail bellwether Marks & Spencer Group Plc in the mid-cap FTSE 250 Index, FTSE Russell announced Wednesday after markets closed. NMC Health Plc and TUI AG were also relegated from the FTSE 100, with Fresnillo Plc, Intermediate Capital Group Plc and Pennon Group Plc being promoted.Like Marks & Spencer, demoted from the benchmark index six months ago, Kingfisher has seen its share price slide over the last five years. Increasing competition from online and discount retailers and an onerous property market continue to make life tough for many of the sector’s stalwarts, who now also have to contend with the impact of the coronavirus. Where retailers had a 6.2% weighting in the FTSE 100 back in 2007, that has now fallen to 3.4%, or just 2.6% for brick-and-mortar retailers, according to data compiled by Bloomberg.“More and more retail-based companies are being edged out of the FTSE 100, simply because it’s the way the markets are moving,” Helal Miah, an analyst at The Share Centre, said by phone. “Structurally, we’re not shopping on the high street as much, we’re preferring to do things online. And for the supermarkets it’s just this incessant competition from the German discounters.”Miah sees retailers becoming an even smaller part of the benchmark gauge in future, to be replaced by financials, property and services businesses. With a market value of 4.4 billion pounds ($5.7 billion), Wm Morrison Supermarkets Plc hadn’t been far away from losing its spot this time, while grocery rival J Sainsbury Plc is also toward the lower end of the FTSE 100 by market value.The changing face of retailing is illustrated by stocks that have recently arrived in the benchmark index: online grocer Ocado Group Plc joined the gauge in June 2018, while sneaker seller JD Sports Fashion Plc gained FTSE 100 promotion a year later. Restaurant delivery firm Just Eat Plc, now known as Just Eat Takeaway following last year’s merger, first entered in late 2017.“There is a clear point to be made about technology,” Neil Wilson, chief markets analyst at Markets.com, said by email. “That is the real lesson -- that even in retail you need to be a technology leader in order to thrive, you cannot just sit back on your bricks-and-mortar sales and hope online will magically work.”\--With assistance from Michael Msika.To contact the reporter on this story: Lisa Pham in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Beth Mellor at email@example.com, Paul JarvisFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
European holiday company TUI and British home improvement group Kingfisher are among companies likely to exit the FTSE 100 in the blue-chip index's latest reshuffle, according to Reuters calculations based on Monday's closing prices. NMC Health will be expelled from the index after losing about two thirds of its market value after U.S. based short-seller Muddy Waters questioned the UAE-based hospital operator's financial statements. While TUI benefited from the failure of rival travel company Thomas Cook, it has been hit hard by the impact of the Boeing 737 MAX grounding and, as most stocks in the travel and leisure sector, by the coronavirus epidemic.
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Starting to invest in income-generating stocks like ITV and Kingfisher can help build savings, says Jonathan Smith.The post No savings at 40? 2 high-dividend-yield shares I would buy for my ISA in February appeared first on The Motley Fool UK.
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London's main share index advanced on Thursday as chances of a full-blown crisis in the Middle East waned, but mid-caps lagged as SIG and Marks and Spencer fell after warning of lower annual results. The FTSE 100 rose 0.3% on its best day in a week after U.S. President Donald Trump stepped back from more military action against Iran and Tehran signalled an end to retaliation. "It looks like the shooting war is over for now, but there is always the potential for escalation at any point," Markets.com analyst Neil Wilson said.