Latest news with #ThierryGarnier
Yahoo
28-05-2025
- Business
- Yahoo
Kingfisher's Q1 FY25/26 UK & Ireland sales up 5.9% amid favourable weather
Kingfisher, the parent company of B&Q, Screwfix and other retail brands, has posted total sales of £3.31bn ($4.48bn) for the first quarter (Q1) of the fiscal year 2025/26, representing 1.6% growth on a reported basis and an increase of 2.2% at constant currency compared to the same quarter of the previous year. The firm experienced a like-for-like (LFL) sales increase of 1.8% for the quarter. In the UK & Ireland markets, Kingfisher's operations, which include B&Q and Screwfix, saw sales climb to £1.73bn - a 6.1% rise and a 5.9% like-for-like change. This surge was attributed to a 7.4% increase at B&Q and a 4.1% rise at Screwfix. The underlying expansion of the company was propelled by B&Q, which benefited from comparisons to its weaker performance the year before. At the conclusion of Q1, Kingfisher reported a group order book that showed improvement when compared to the same period of the previous year. The company witnessed significant growth in double digits within its UK operations, which can be largely attributed to beneficial weather conditions. It is possible that a portion of this surge in growth may have been due to sales being advanced from the second quarter. Kingfisher's performance across different regions aligned with prevailing consumer behaviours, exhibiting robustness in the UK market, while experiencing weaker results in France and Poland. In France, where Kingfisher runs Castorama and Brico Dépôt, sales saw a decline of 4.9% in Q1, with individual drops of 5.1% and 4.6% at each banner respectively. The company's Polish division experienced a slight revenue decrease of 0.4%, while its other international segment reported a revenue boost of 2.5%, reaching £164m. E-commerce sales for Kingfisher grew 9.3% during the quarter, with online sales now accounting for 20% of total sales. Kingfisher CEO Thierry Garnier stated: 'Our UK banners performed particularly well, driven by strong seasonal sales and growth in trade and e-commerce. We have successfully completed the conversion of eight former Homebase stores, all of which will be operating under the B&Q banner by the end of May. France delivered sequential improvement, outperforming challenging market conditions, while Poland, as expected, experienced short-term volatility due to geopolitical factors.' For FY25/26, Kingfisher maintained its anticipated full-year adjusted profit before tax of £480m to £540m, with free cash flow projections ranging from £420m to £480m. The retailer does not foresee significant direct effects from potential shifts in cross-border tariffs as it does not have any sales or operations in the US. Kingfisher sources most products within Europe from the country in whicih they are sold and 20% to 25% of its products from Asia. However, it remains vigilant regarding broader impacts on inflation and market demand. Garnier added: 'It is still early in the year and consumer sentiment remains mixed across our markets. We are focused on executing our strategic growth priorities, maintaining discipline on margin and costs, and driving shareholder returns. We are confident in delivering our full year guidance.' The company operates 1,900 stores and has a workforce of 76,000. In December 2024, Kingfisher disclosed the divestiture of its Brico Dépôt Romania business to domestic retailer Altex Romania. "Kingfisher's Q1 FY25/26 UK & Ireland sales up 5.9% amid favourable weather" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Examiner
28-05-2025
- Business
- Irish Examiner
B&Q opens three new stores in Ireland
B&Q and Screwfix owner Kingfisher reported a 1.8% rise in first-quarter same-store sales for Ireland and the UK after good weather boosted sales of garden furniture and barbecues. The FTSE-100 listed group, which also owns Castorama and Brico Depot in France and other markets, said it was sticking with its full-year forecast for adjusted pre-tax profit of £480m (€572m) to £540m (€643m). The group, which trades from over 1,900 stores, said like-for-like sales in the UK and Ireland rose 5.9% in the three months to April 30 but were down 3.2% in both France and Poland. However, Kingfisher said it won market share in all of those countries. "Our UK banners performed particularly well, driven by strong seasonal sales and growth in trade and e-commerce," chief executive Thierry Garnier said. Sunny weather boosted overall retail sales in April and households grew cheerier this month, according to figures published last week that suggested consumer spending might be a bright spot in an otherwise drab outlook for the economy. However, in France, data showed consumer confidence hit a five-month low this month on growing worries about the economy and unemployment. Kingfisher noted that in the UK and Ireland, sales of seasonal products, such as garden furniture, barbecues and plants, jumped 28.3% year-on-year, largely due to better weather. But it cautioned that some of this growth was likely to have been pulled forward from the second quarter. In Ireland, B&Q opened three new stores at locations in Navan, Waterford and Letterkenny. The store openings follow the acquisition by B&Q of three leasehold stores, formerly trading as Homebase, for a purchase price of £3.2m (€3.79m). Collectively, the three will employ 109 staff, 51 of whom transferred from Homebase. Following a revamp and rebranding programme, the first of the new stores opened in Navan Retail Park. B&Q Waterford will open on Friday, followed by B&Q Letterkenny on Saturday. The acquisitions build on B&Q's existing network and bring to 11 its portfolio of stores in the Republic of Ireland. John Eason, B&Q Retail Director, Ireland said: 'This is a landmark moment for B&Q and is indicative of the confidence we have in the Irish market. Opening three new stores builds on the success of our existing eight stores in Ireland and the continuous and growing demand for home improvement products and services nationwide. 'We are so pleased that so many former Homebase colleagues have joined the B&Q family, and we look forward to working with them - alongside our 58 new team members – as we build an even stronger presence in the Irish market. We are also looking forward to welcoming DIY enthusiasts together with home improvement and trade professionals to our new stores, which is for everyone, whatever their home improvement needs.' Additional reporting Reuters Read More Bulmers owner C&C Group reports minimal impact from tariffs
North Wales Chronicle
28-05-2025
- Business
- North Wales Chronicle
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.'
Powys County Times
28-05-2025
- Business
- Powys County Times
Warm weather boosts B&Q's DIY and garden sales
B&Q owner Kingfisher has seen UK sales bounce back thanks to a warm weather boost for the DIY chain. 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.'
Leader Live
28-05-2025
- Business
- Leader Live
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.'
