B&Q quarter two sales fall with seasonal sales hardest hit

B&Q UK & Ireland sales were -7.8% in the quarter to 31 July at £967m, reflecting the annualisation of the completed store closure programme.

Like for like (LFL) was -4.7% including benefit from sales transference associated with store closures.

Total sales were -2.1% and LFL -1.0% reflecting continued strong Screwfix performance and modest price inflation offset by a softer B&Q performance.

LFL of seasonal was -10.7% reflecting strong comparative (Q2 16/17: +9.6%) and the positive impact of weather on this year’s Q1. LFL of non-seasonal, including showroom was -1.6%.

B&Q seasonal sales were up 17.5% after the first quarter.

Chief executive Véronique Laury said: "Q2 has broadly followed a similar course to Q1 although B&Q's performance was impacted by seasonal swings across Q1 and Q2. We have also continued to experience some disruption across the businesses, although on an improving trend. Availability of this year’s unified and unique product is now approaching normal levels. We continue to adapt new processes as our transformation progresses, which will support the significant amount of change planned for H2.

"Having been very aware that this year would be challenging given the step up in transformation
activity, we already have self-help plans in place to support our overall Year 2 performance, though
we remain cautious on the H2 outlook for the UK and France as previously guided. We remain on
track to deliver our Year 2 strategic milestones, and look forward to updating you on our wider
progress in more detail at our H1 results."


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