B&Q blames sales dip on wet Easter but predicts heatwave gain
Kingfisher said wet Easter weather hurt B&Q sales, but it kept its profit outlook and sees a boost from the current heatwave.
Intelligence analysis by GPT-5.4 Mini
Kingfisher reported weaker B&Q sales after cold, wet Easter weather reduced demand for barbecues, garden goods and plants. Even so, it held its profit guidance, and investors pushed the shares higher.
Kingfisher owns B&Q and Screwfix. It said a cold, rainy Easter kept people from buying things like grills, garden furniture and plants.
But the company still thinks it can make about the same profit as before. That was enough to make investors happy, like when a student gets a bad quiz score but still shows the teacher the big test should be fine.
The company is also selling more to trade workers, who often need tools and materials for their jobs no matter what the weather is doing.
Analysis
What happened
Kingfisher, which owns B&Q and Screwfix in the UK and other home-improvement chains across Europe, said like-for-like sales at its UK and Ireland stores fell 0.9% from February to April. B&Q was weaker, with sales down 4.1%, while Screwfix posted 4.1% revenue growth. Group sales also fell 0.9% over the quarter.
Why sales moved
The company blamed a wet and cold Easter for hurting demand for seasonal products such as barbecues, garden furniture and plants. It said those seasonal lines make up about a fifth of revenue, so weather can have a noticeable effect on trading. B&Q also sold fewer bathroom fixtures, although that was partly offset by a 4.5% rise in kitchen sales after new ranges were introduced.
Outlook and market reaction
Kingfisher kept its full-year guidance unchanged, saying it still expects pre-tax profit of between £565m and £625m. That reassured investors, and the shares rose 3% on Tuesday, putting the group at the top of the FTSE 100 risers.
Chief executive Thierry Garnier said the business had made a resilient start to the year and was focused on strategy, gross margin discipline and cost control. An analyst quoted in the piece said the weather excuse can sound routine to markets, but noted that the lack of a downgrade helped keep investors on side. He also pointed to strong growth at Screwfix and Kingfisher’s push toward trade customers, who may be steadier buyers than ordinary shoppers.
The company said sales to trade customers rose 17% excluding Screwfix, underlining that shift. Kingfisher also plans more investment in its own-brand bathroom ranges later this year.
Key points
- Wet Easter weather reduced B&Q sales, especially seasonal items like barbecues and garden products.
- Kingfisher kept its full-year pre-tax profit forecast at £565m to £625m.
- Screwfix sales rose 4.1%, helping offset weakness at B&Q and other European chains.
- Sales to trade customers rose 17% excluding Screwfix, showing a strategic shift toward steadier demand.
- Kingfisher shares rose 3% after the outlook held steady.
