The owner of B&Q and Screwfix, Kingfisher, has reported a slowdown in sales over recent months, attributing the dip to a delayed start to spring that reduced footfall and discouraged customers from making major purchases.
Sales Performance
The London-listed retail group saw total sales fall by 0.9% to £3.3 billion during the period from February to April, compared on a like-for-like basis with the same timeframe last year. While acknowledging a cautious consumer environment, the company described the start of the year as "resilient."
In the UK and Ireland, B&Q experienced a 4.1% decline in sales. According to the firm, the late arrival of spring weather resulted in fewer shoppers visiting stores and impacted spending on seasonal items as well as some core product categories.
Big-Ticket Spending
Expenditure on higher-value home improvement projects, particularly bathroom renovations, weakened. However, the company noted that this was partially offset by growth in its new kitchen ranges.
Screwfix Growth
In contrast, the Screwfix brand continued to strengthen, with sales jumping 4.1% year-on-year. The brand has been gaining market share, buoyed by online and trade-focused initiatives.
Outlook
Kingfisher expects earnings to grow this year, forecasting adjusted profits between £565 million and £625 million for the current financial year.
Thierry Garnier, Kingfisher’s chief executive, commented: "It was a resilient start to 2026, even as a late start to spring impacted footfall and seasonal demand. E-commerce and trade sales both delivered double-digit growth, underlining the momentum in our key growth drivers. While mindful of the consumer environment, we remain absolutely focused on delivering our strategy, disciplined gross margin and cost management, and consistent shareholder returns."
