B&Q sales hit by poor weather and weak consumer confidence

Kingfisher: Slow start to the year for DIY chain B&Q, with sales down 9%

Sales at B&Q were pummelled by the beast from the east in the first quarter as the retailer was forced to close stores in the face of extreme weather.

Figures from the DIY chain’s parent company, Kingfisher, show B&Q’s total sales fell by 8.8% to £828 million in the three months to April 30.

The freezing weather hit footfall and sales in weather-related categories, while some stores were forced to shut.

Kingfisher boss Veronique Laury also pointed to weak consumer demand as denting the firm’s performance.

She said: “It was a challenging start to the year, with exceptionally harsh weather across Europe and weak UK consumer demand.

“This impacted footfall, especially sales of weather-related categories. February and March were particularly affected, with sales improving over the course of April and into May.

“Market conditions continue to be mixed. The UK is uncertain.”

Sister company Screwfix, the group’s stand-out performer, booked a 3.6% increase in comparable sales.

But it was not enough to stop the group from posting a 4% slide in like-forlike sales in the quarter.

Total sales at the group were down 1.2% to £2.8 billion, while UK sales dipped 3.7% to £1.2bn.

B&Q is in the middle of an overhaul, which has seen it shut 65 shops and slash around 3,000 jobs in the UK and Ireland over the last two years.

Kingfisher’s share price rose 1.2% to close at 299p.

Top: B&Q is the latest retailer to be hit with poor figures this year. Above: Kingfisher chief executive Veronique Laury.