Growth for Screwfix & B&Q, but France underperforms for Kingfisher

Kingfisher’s Q1 2019, sales of £2.8 billion up 1.7% in constant currency, like-for-like up 0.8%.

Sales in UK & Ireland were up 5% (3.4% l-f-l), with Screwfix sales up 9.6% (l-f-l 4.5%) and four new outlets in Q1. B&Q picked up, with sales rising 2.8%, benefiting from stronger weather-related performance benefiting l-f-l by around 6%.

The Polish and Romania sides of the Kingfisher business performed well. Poland sales were up 7.4% (6.2% l-f-l) and Romania was up 10.1% (24.6% l-f-l). In Romania, the integration of Praktiker is “progressing well” with all store rebranded as Brico Depot.

Kingfisher continued to struggle in France, with total sales down 3.4% (l-f-l 3.7%). Castorama was down 2.4% while Brico Depot fell 4.5% (l-f-l 5.1%).

Kingfisher made the decision to pull out of Russia, Spain and Portugal last year.

Véronique Laury, Chief Executive Officer, 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.
“This year we are focused on completing the building of our ‘engine’ and making our innovation
more visible to customers. Our new outdoor range was rolled out to all markets in the quarter
alongside a globally coordinated marketing campaign. We are also excited to be launching several
new ranges this year which are unique to us and will further differentiate us from our competitors,
including surfaces & décor and bathrooms across the Group, and kitchens in B&Q. In addition, we
are piloting a new convenience store concept which we look forward to demonstrating at today’s
Kingfisher Innovation Day.
“At this early stage of the year our expectations for the full year are unchanged, and we remain
confident in our ability to deliver significant financial benefits over time.