Kingfisher reports mixed first quarter
Kingfisher, the owner of B&Q and Screwfix, increased its like-for-like sales at constant currency by 3.4% in its first quarter in the UK and Ireland.
Like-for-like sales at B&Q rose by 2.8% in the period while like-for-likes at Screwfix climbed by 4.5%.
Kingfisher’s French business, which includes Castorama and Brico Dépôt, saw its sales decline by 3.7% on a like-for like basis.
Meanwhile, like-for-like sales in Kingfisher’s other international markets, which include Romania, Poland, Russia, Iberia and Germany, rose by 4.2% following strong uplifts in Poland and Romania.
Véronique Laury, Kingfisher chief executive, 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. Screwfix, Poland and Romania delivered good sales growth while our performance in France was mixed within the quarter.”
Laury said the company’s expectations for the full year remain unchanged. She added: “We remain confident in our ability to deliver significant financial benefits over time.”
