Posted 30th May 2018

Kingfisher sees like-for-like sales drop of 5.4% in UK

30th May 2018 - 14:19pm
Money Matters

Kingfisher – the owner of B&Q and Screwfix – has reported a 5.4% decline in like-for-like sales for the first quarter of 2018, reflecting “weaker performance” at B&Q against “solid performance” at Screwfix.

According to the group, B&Q UK & Ireland saw like-for-like sales drop by 9% due to “ongoing lower footfall and soft demand patterns”. The company also noted that Screwfix like-for-like sales were up by 3.6% in the period, with 10 new outlets opening during the first quarter.

“It was a challenging start to the year with exceptionally harsh weather across Europe and weak UK consumer demand,” said CEO Véronique Laury. “This impacted footfall, especially sales of weather related categories. February and March were particularly affected with sales improving over the course of April and into May.

“Market conditions continue to be mixed. The UK is uncertain, as demonstrated by recent weak retail sales data; France is encouraging, but volatile; whilst Poland continues to be supportive. We remain confident about delivering the business and customer benefits of our transformation plan, supported by the continued hard work and expertise of our colleagues.”

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