Kingfisher reports sales slowdown amid changing consumer behaviour
B&Q owner Kingfisher has reported a slowdown in sales in recent months, attributing the decline to a late start to spring, which resulted in fewer visitors and a cautious approach to larger purchases, reports BritPanorama.
The London-listed business, which also owns Somerset-based Screwfix, acknowledged the challenging consumer environment but noted a “resilient” start to the year.
Total sales for the group decreased by 0.9% to £3.3 billion between February and April compared to the same period last year.
In the UK and Ireland, sales at B&Q fell by 4.1%. The company explained this decrease as a result of the delayed spring season, which reduced customer footfall and impacted spending on both seasonal and core items.
Sales in larger-ticket categories, particularly in bathroom products, were lower; however, the decline was somewhat offset by strong performance from new kitchen ranges.
Conversely, the Screwfix brand continued to grow, with sales rising by 4.1% year on year. This brand has been gaining market share, buoyed by online and trade initiatives.
The retail group expects its earnings to improve this year, projecting adjusted profits to be between £565 million and £625 million for the current financial year.
Thierry Garnier, Kingfisher’s chief executive, described the start of 2026 as “resilient,” acknowledging the impact of the late spring on foot traffic and seasonal demand.
“E-commerce and trade sales both delivered double-digit growth, underlining the momentum in our key growth drivers,” he stated.
He added, “While mindful of the consumer environment, we remain absolutely focused on delivering our strategy, disciplined gross margin and cost management, and consistent shareholder returns.”
The current sales figures highlight the complexities facing retailers in a volatile environment. Kingfisher’s ability to adapt and maintain growth in certain sectors, such as e-commerce, reflects broader trends within the market. Their strategic focus on managing costs while navigating consumer caution could prove vital as they move through the fiscal year.
