B&Q Blames Wet Easter for Sales Dip, Eyes Heatwave Recovery

AI Summary

A cold, rainy Easter trimmed seasonal sales at B&Q, pulling the Kingfisher group’s like‑for‑like revenue down 0.9% in the February‑April period. The group expects the current heatwave to lift garden and BBQ sales and sticks to its full‑year pre‑tax profit guidance of £565‑£625 million.

Wet Easter Dampens Seasonal Sales at B&Q

A wet and cold Easter discouraged customers from buying barbecues, garden furniture and plants, causing a dip in seasonal revenue for the home‑improvement chain B&Q, part of the Kingfisher group.

Sales Figures Reveal 0.9% Group Decline, B&Q Down 4.1%

Group like‑for‑like sales fell 0.9% between February and April.
B&Q sales dropped 4.1% in the same period.
Screwfix revenue rose 4.1%, offsetting part of the decline.
Seasonal products account for roughly 20% of Kingfisher’s total revenue.
Kitchen sales increased 4.5% after the launch of new ranges.

Strategic Shift Toward Trade Customers and Heatwave Opportunity

Kingfisher is leaning more on its trade‑customer base, which grew 17% (excluding Screwfix) as professionals continue to buy essential tools and materials. The company also plans further investment in its own‑brand bathroom range later this year, aiming to capture market share despite a 2% overall decline in UK bathroom sales.

Outlook: Heatwave Boost and Full‑Year Profit Guidance

The current heatwave is expected to revive demand for outdoor and garden items, helping B&Q recover lost ground. Thierry Garnier, chief executive of Kingfisher, reaffirmed the full‑year outlook, targeting a pre‑tax profit of £565 million‑£625 million. The guidance lifted the share price by 3% and kept the stock at the top of the FTSE 100.