Kingfisher, the parent company of B&Q, Screwfix and other retail brands, has posted total sales of £3.31bn ($4.48bn) for the first quarter (Q1) of the fiscal year 2025/26, representing 1.6% growth on a reported basis and an increase of 2.2% at constant currency compared to the same quarter of the previous year.
The firm experienced a like-for-like (LFL) sales increase of 1.8% for the quarter.
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In the UK & Ireland markets, Kingfisher’s operations, which include B&Q and Screwfix, saw sales climb to £1.73bn – a 6.1% rise and a 5.9% like-for-like change.
This surge was attributed to a 7.4% increase at B&Q and a 4.1% rise at Screwfix.
The underlying expansion of the company was propelled by B&Q, which benefited from comparisons to its weaker performance the year before. At the conclusion of Q1, Kingfisher reported a group order book that showed improvement when compared to the same period of the previous year.
The company witnessed significant growth in double digits within its UK operations, which can be largely attributed to beneficial weather conditions. It is possible that a portion of this surge in growth may also have been due to sales being brought forward from the second quarter.
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By GlobalDataKingfisher’s performance across different regions aligned with prevailing consumer behaviours, exhibiting robustness in the UK market, while experiencing weaker results in France and Poland.
In France, where Kingfisher runs Castorama and Brico Dépôt, sales saw a decline of 4.9% in Q1, with individual drops of 5.1% and 4.6% at each banner respectively.
The company’s Polish division experienced a slight revenue decrease of 0.4%, while its other international segment reported a revenue boost of 2.5%, reaching £164m.
E-commerce sales for Kingfisher grew 9.3% during the quarter, with online sales now accounting for 20% of total sales.
Kingfisher CEO Thierry Garnier stated: “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.”
For FY25/26, Kingfisher maintained its anticipated full-year adjusted profit before tax of £480m to £540m, with free cash flow projections ranging from £420m to £480m.
The retailer does not foresee significant direct effects from potential shifts in cross-border tariffs as it does not have any sales or operations in the US.
Kingfisher sources most products within Europe from the country in whicih they are sold and 20% to 25% of its products from Asia. However, it remains vigilant regarding broader impacts on inflation and market demand.
Garnier 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.”
The company operates 1,900 stores and has a workforce of 76,000.
In December 2024, Kingfisher disclosed the divestiture of its Brico Dépôt Romania business to domestic retailer Altex Romania.
