Kingfisher sales rise 2.2% to £3.3bn in Q1
According to the group, this has had a ‘positive mix impact’ on average selling price, while retail price inflation was flat
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Kingfisher, which operates DIY brands Screwfix and B&Q, has reported that total sales rose 2.2% to £3.3bn in the first quarter ended 30 April.
It comes as like-for-like sales grew 1.8% during the period, with the group noting a 2.7% boost in underlying growth, thanks to customers making more large and frequent purchases in seasonal categories in the UK.
According to the group, this has had a “positive mix impact” on average selling price, while retail price inflation was flat.
In addition, ecommerce sales rose 9.3% during the period, with ecommerce sales penetration reaching 20%.
Thierry Garnier, chief executive of Kingfisher, said: “We have made a good start to the year with underlying sales growth of 3.1%, market share gains in all key regions and further progress in our strategic priorities.
“Our UK banners performed particularly well, driven by strong seasonal sales and growth in trade and e-commerce. We have successfully completed the conversion of eight former Homebase stores, all of which will be operating under the B&Q banner by the end of May. France delivered sequential improvement, outperforming challenging market conditions, while Poland, as expected, experienced short-term volatility due to geopolitical factors.”
He added: “It is still early in the year and consumer sentiment remains mixed across our markets. We are focused on executing our strategic growth priorities, maintaining discipline on margin and costs, and driving shareholder returns. We are confident in delivering our full year guidance.”
Kingfisher maintains its market and guidance for FY25/26, with an adjusted profit before tax of between £480m to £540m and free cash flow estimate of £420m to £480m.
