Kingfisher Makes A Solid Start To The Year

Kingfisher’s Chief Executive Véronique Laury said today that the business had made a solid start to the year with its core UK business seeing robust sales growth.

Whilst total first quarter sales (to 30 April) at B&Q UK & Ireland fell 4.3% due to planned store closures, like-for-like sales rose 3.6%. Meanwhile, at Screwfix like-for-like sales climbed 16.2% with total sales increasing 23.5% following the opening of 10 new outlets.

In France, where Kingfisher operates the Castorama and Brico Dépôt chains, like-for-like sales edged up 0.2% in a weak market. Like-for-like sales in Poland rose by 10.8%, although Russia and Spain saw declines of 4.5% and 3.2% respectively.

Laury said trading was in line with expectations, adding: “I am pleased with the early progress we are making on our operational milestones for this year, the first year of our ambitious five year plan. We continue to feel confident in our ability to deliver our plan, based on putting customer needs first, supported by the expertise and enthusiasm of our colleagues.”