B&Q seasonal sales up 17.5% after first quarter

B&Q parent company Kingfisher reported sales of £2.9 billion, with like-for-like sales down 0.6% in the first quarter to 30 April.

Image: Flickr/Duncan Hull (Creative Commons Licence)
Image: Flickr/Duncan Hull (Creative Commons Licence)
But in the UK, total sales were +1.4% and like-for-like sales +3.5% reflecting a continued strong performance from Screwfix and modest price inflation.
B&Q UK & Ireland sales were - 4.6% reflecting annualisation of its completed store closure programme.
Like-for-like sales were +0.5% including benefit from sales transference associated with store closures
and strong digital growth (+31%).
Like-for-like seasonal sales, with the spring gardening season under horticulture head of range Tim Clapp, was +17.5%. Like-for-like of non-seasonal products, including showroom was -3.9%.
Screwfix sales were up +20.3% (LFL +12.6%) driven by its leading digital capability, new and extended ranges and new outlets
Chief executive officer Véronique Laury said: "We have set ourselves up well for our transformation, which continues in line with our plans. Strong performance in Screwfix and Poland continues, though performance in France remains weak. In addition, we are experiencing some business disruption given the volume of change, as we clear old ranges, re-merchandise new ranges and continue the roll out of our unified IT platform.
"However, we are on track to deliver our Year 2 strategic milestones. Early customer reaction to our
new ranges is encouraging, especially in France where our new unique bathroom ranges are launching first. We are also progressing well with our IT platform, which is now live in nearly a third of our Castorama France stores and which will enable us to build a much stronger digital offer.
"We remain confident in the size of the prize and our ability to deliver our long term plan, both the
financial benefits of the transformation and the benefits to customers, supported by the continued
expertise and energy of our colleagues."

Meanwhile, Christian Mazauric is transferring from Kingfisher's Brico Depot business in Romania to take the helm of B&Q. He will join the DIY business in the UK on July 1st and replacing Michael Loeve who is moving to Netto.

Mazuric has spent 16 years with Kingfisher to date, including spells with Screwfix and Castorama. 

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