Warm weather boosts B&Q's DIY and garden sales
The firm said recent sunshine saw demand rocket across its garden and seasonal ranges, helping UK and Ireland like-for-like sales jump 5.9% higher in the three months to April 30.
Sales of seasonal products alone soared by nearly a third (29.8%) across B&Q and were 21.2% higher for Screwfix.
Kingfisher said seasonal products accounted for more than a fifth (21%) of all group-wide sales in its first quarter.
But it added that some of the strong sales growth was likely to have been 'pulled forward' from second-quarter trading.
Kingfisher's update also showed that trading challenges remain across its operations in France, where it trades as Castorama and Brico Depot, as well as Poland, with sales down by 4.9% and 0.4% respectively in reported currencies.
Overall, group-wide like-for-like sales lifted 1.8% on a constant currency basis and the group said it remains on track for full-year underlying pre-tax profits of around £480 million to £540 million.
Kingfisher chief executive Thierry Garnier said: 'Our UK banners performed particularly well, driven by strong seasonal sales and growth in trade and e-commerce.'
But he added a note of caution despite the better-than-expected first-quarter figures.
'It is still early in the year and consumer sentiment remains mixed across our markets,' he said.
Kingfisher also confirmed that it does not expect any direct hit from global trade tariff woes, as it has no US sales or operations and sources most of its products in Europe from the same country in which they are sold, while between 20% and 25% of items are also sourced from Asia.
'We therefore expect little direct impact from any potential changes in cross border tariffs, but remain watchful of any broader impact on both inflation and market demand,' it said.
Despite the sales rebound, shares in Kingfisher fell 3% in morning trading on Wednesday, having risen strongly in recent weeks.
Chris Beauchamp, chief market analyst at global trading and investing platform IG, said: 'It seems Britons' first impulse on seeing the sun is to start doing some DIY, if Kingfisher's results are any indication.
'Up 16% so far this year, the shares have been a haven from tariff volatility, though the update didn't offer much to extend the rally in the short term.'
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