Home improvement retailer B&Q has reported a decline in Q1 sales as wider group sales rose.
According to the latest Kingfisher, parent company of B&Q, first quarter trading update, total group sales rose 1.4% to £3.3bn.
Within the group, B&Q sales fell 3% to £1bn, while Screwfix revenues rose 5.5% to £712m. UK and Ireland sales rose 0.3% to £1.7bn.
On B&Q, the group said sales were impacted by a strong prior year comparator and a late start to spring impacting footfall, seasonal sales and related purchases of core categories.
“Big‑ticket reflective of a soft bathroom market, partly offset by strength in new kitchen ranges. Strong progress in e‑commerce with sales +16% and Marketplace GMV +29%. E-commerce penetration reached 19%. One store opened.”
Looking ahead, Kingfisher expects Adjusted PBT in the range of approximately £565m-£625m.
Thierry Garnier, Chief Executive Officer, said: “We delivered a resilient start to the year, executing well and gaining market share against a soft market backdrop. Sales including marketplace grew +0.8%, with core categories proving resilient – even as a late start to spring impacted footfall and seasonal demand. E-commerce and trade sales both delivered double-digit growth, underlining the momentum in our key growth drivers.
“While mindful of the consumer environment, we remain absolutely focused on delivering our strategy, disciplined gross margin and cost management, and consistent shareholder returns. We are confident in achieving our full-year guidance and are well positioned to capitalise on the attractive long-term growth opportunities across our markets.”
