// Kingfisher blames “unusually poor spring weather in the UK and France” for lower seasonal sales
// First quarter sales dropped 3.3% on a like-for-like basis for the B&Q and Screwfix owner to £3.3bn
Kingfisher has posted a dip in first quarter sales, blaming poor weather conditions for the slowdown in demand for its seasonal categories.
Like-for-like sales slipped 3.3% to £3.3bn in the three months to 30 April 2023, with UK and Ireland sales up 1.4% to £1.6bn.
The home improvement retailer said its core categories and big ticket items showed “continued resilience” with UK sales for the category up 1.7% on a like-for-like basis, helping to offset a 12.2% drop in revenue for its seasonal range.
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Kingfisher added that improving trends in April gave it confidence it would meet forecasts and market expectations for its full year adjusted pre-tax profit of £634m.
Screwfix revenue jumped 6.6% to £610m for the period, while B&Q sales dipped 1.5% to £980m.
Chief executive Thierry Garnier said: “As we move through our key trading season, we are pleased to see that sales in our core and ‘big-ticket’ categories, which make up over 80% of our total sales, are showing continued resilience.
“The unusually poor spring weather in the UK and France affected our seasonal sales in the quarter, impacting demand for items such as garden and outdoor products.
“We have however seen an improvement in trading since early April and anticipate a release of some pent-up demand as the weather continues to improve.”
The DIY group said it expects to see lower cost inflation in the second half of the year as raw material prices and freight costs ease.
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