Kingfisher, the owner of DIY chain B&Q, has blamed a wet and cold Easter for a drop in sales of barbecues and garden products, but hopes to recover lost ground during the current heatwave. The company, which also owns Screwfix in the UK and Castorama and Brico Dépôt across Europe, reported a 0.9% decline in like-for-like sales at established outlets in the UK and Ireland for the three months to April.
Within that figure, B&Q sales fell 4.1%, while Screwfix revenue rose 4.1%. Overall group sales were down 0.9%, with declines at Castorama and Brico Dépôt. Kingfisher said seasonal products, which account for a fifth of its revenues, were hit by rain and cold around Easter, deterring customers from buying items such as BBQs, garden furniture and plants.
Despite the dip, Kingfisher stuck to its full-year profit outlook of between £565m and £625m, driving its share price 3% higher on Tuesday, making it the top riser on the FTSE 100. Chief executive Thierry Garnier said the company delivered a resilient start to the year, gaining market share against a soft market backdrop.
Sales of bathroom fixtures at B&Q fell, but kitchen sales rose 4.5% after the introduction of new ranges. The company plans further investment in its own-brand bathroom ranges later this year. Sales to trade customers rose 17%, excluding Screwfix, as Kingfisher continues to target professionals who provide more reliable revenue streams.
