Saturday, 30 May 2020

B&Q owner sees sales bounce from warm weather

B&Q owner Kingfisher said the DIY chain has enjoyed a sales bounceback thanks to warm spring weather and a sun-soaked Easter weekend.

The group reported like-for-like sales growth of 2.8pc for B&Q in Ireland and the UK for the three months to April 30, which marks a turnaround on recent trading and from a year earlier when the Beast from the East extreme weather pushed sales 9pc lower.

Kingfisher said this year’s warmer weather helped boost sales by around 6pc, although this was offset by a hit of about 2pc as it ended some showroom installation services.

Group revenues for the period were £2.83bn (€3.2bn), up 0.8pc year-on-year on a like-for-like basis.

France remains a struggle for the company however, with like-for-like sales down 3.7pc year-on-year due to declines at both its Castorama arm and Brico Depot.

Outside of France and other international sales rose 4.2pc when compared to the same period last year due to strong gains in Poland, Romania and Germany.

Kingfisher’s outgoing chief executive Veronique Laury said: “The group delivered positive sales growth in the first quarter, with sales of unified and unique ranges continuing to grow ahead of non-unified ranges.”

She added: “At this early stage of the year our expectations for the full year are unchanged, and we remain confident in our ability to deliver significant financial benefits over time.”

(Additional reporting PA)

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