Kingfisher’s UK retailers – B&Q and Screwfix – have boosted the group’s first quarter results, with like-for-like sales up 1.8%.
Its UK LFL sales were in fact up 5.9% but this was offset by a 3.2% decline in both France and Poland, where it runs Castorama.
B&Q’s growth was driven by strong seasonal category sales, with a positive performance also seen in core and ‘big-ticket’ categories. B&Q’s marketplace penetration reached 45% in Q1, with focus on onboarding international vendors.
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It has also completed the conversion of eight stores acquired from Homebase, with six now open and the remaining two set to open by the end of May.
B&Q’s trade-focused banner Tradepoint also delivered a strong performance with LFL sales growth of 7.4%, as the business continued to strengthen its relationship with trade customers, supported by trade sales partners, now present in 77 stores.
While Screwfix saw 2.9% LFL sales growth, and market share gains, which were driven by an increased product range for trade customers. It also reported continued success of the one-minute click & collect offering, and Screwfix Sprint – with rapid delivery now in as little as 20 minutes.
Thierry Garnier, chief executive officer, Kingfisher, said: “We have made a good start to the year with underlying sales growth of 3.1%, market share gains in all key regions and further progress in our strategic priorities.
“Our UK banners performed particularly well, driven by strong seasonal sales and growth in trade and ecommerce.
“France delivered sequential improvement, outperforming challenging market conditions, while Poland, as expected, experienced short-term volatility due to geopolitical factors.
“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.”
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