Kingfisher, the owner of B&Q and Screwfix, has reported a slowdown in sales in recent months, attributing the decline to a late start to spring that kept shoppers away and dampened demand for larger purchases.
Sales Performance
The London-listed company, which also owns Somerset-based Screwfix, said it was 'mindful' of the consumer environment but hailed a 'resilient' start to the year. Total sales for the group declined by 0.9% to £3.3 billion between February and April, compared with the same period last year. In the UK and Ireland, B&Q sales fell by 4.1%, which the company said reflected a late spring, resulting in fewer visitors and impacting spending on seasonal and core items.
Big-Ticket Items
'Big-ticket' spending, which includes costly home purchases, was particularly affected by a drop in bathroom sales. However, the company noted that this was partly offset by growth in new kitchen ranges. Despite the overall slowdown, the Screwfix brand continued to strengthen, with sales jumping by 4.1% year-on-year. The brand has been gaining market share, boosted by online and trade initiatives.
Outlook
The retail group expects earnings to grow this year and is on track to achieve adjusted profits of between £565 million and £625 million for the current financial year. Thierry Garnier, Kingfisher's chief executive, described the start to 2026 as 'resilient,' even as a late spring impacted footfall and seasonal demand. 'E-commerce and trade sales both delivered double-digit growth, underlining the momentum in our key growth drivers,' he said. 'While mindful of the consumer environment, we remain absolutely focused on delivering our strategy, disciplined gross margin and cost management, and consistent shareholder returns.'
