'Late start to spring impacted footfall': B&Q owner Kingfisher reports sales slowdown
B&Q owner Kingfisher has reported a slowdown in sales in recent months as the DIY giant blamed a late start to spring for fewer visitors and people holding back on buying bigger goods.
The London-listed business, which also owns Screwfix, said it was “mindful of the consumer environment” but reported a “resilient” start to the year.
Total sales for the group declined by 0.9 per cent to £3.3 billion between February and April, compared like-for-like with the same period last year.
In the UK and Ireland, sales at B&Q fell by 4.1 per cent, which the company said reflected a late start to spring, resulting in fewer people coming into shops and affecting spending on its seasonal and some core items.
“Big-ticket” spending – meaning more costly home purchases – was dragged down by fewer bathroom sales, but the firm said this was partly offset by strengthening new kitchen ranges. Nevertheless, the Screwfix brand continued to strengthen with sales jumping by 4.1 per cent year on year.
The brand has been taking a bigger share of the market and has been buoyed by online and trade initiatives.
The retail group is expecting earnings to grow this year, saying it is on track to make adjusted profits of between £565 million and £625 million for the current financial year.
Thierry Garnier, Kingfisher’s chief executive, said 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,” 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.”
Richard Hunter, Head of Markets at interactive investor, commented: “Kingfisher has had a number of false starts over recent times, with generally pedestrian rather than transformational progress. This update is no exception, with a mixed showing although there are some extenuating circumstances such as a late start to spring which impacted footfall, and some strong comparatives. For today, the share price reflects a glass half-full reaction.
He added: “Core categories, which account for 65 per cent of overall sales, grew by 0.6 per cent on a like-for-like (LFL) basis, although big-ticket (15 per cent of overall sales) and seasonal (20 per cent) suffered by 4.4 per cent and 3 per cent respectively, with a generally strong kitchen performance could not arrest the slide in the bathroom category, where a range review is planned this year. More promisingly, there were some signs of life in Kingfisher’s overseas operations, which have laboured under the weight of economic indifference.”
He continued: "Increased taxes in both the UK and France are a burden on the group, while big ticket and seasonal sales expose Kingfisher to both cyclical pressure via housing markets as well as unpredictable weather.
"In addition, the current conflict in Iran has pushed energy costs higher, while the consumer could also retrench, quite apart from the fact that the housing market is yet to show any signs of a sustained recovery.
"As a result, the shares have fallen by 18 per cent over the last three months, undoing much of the progress which had been made.”