Kingfisher says outlook confident despite dip in like-for-like sales

(Alliance News) - Kingfisher PLC on Tuesday said its core business categories remain "resilient", despite reporting lower like-for-like sales, citing a "strong" prior year comparator.

The London-based home improvement products retailer said like-for-like sales for its first quarter to the end of April declined against a "soft market backdrop" but said it is on track to deliver its full year guidance. The firm said first quarter sales rose 1.4% to GBP3.30 billion on a reported basis, but fell 0.9% on a like-for-like basis, as it cited a "strong prior year comparator". Underlying sales, excluding calendar and leap-year impact, declined by 0.7%.

UK & Ireland sales were up 0.3% but down 0.9% on a like-for-like basis. France sales rose 1.4% but fell 2.1% like-for-like, while Poland sales rose 3.3% but declined 0.2% like-for-like.

"We delivered a resilient start to the year, executing well and gaining market share against a soft market backdrop," said Chief Executive Officer Thierry Garnier.

Kingfisher noted its GBP300 million share buyback programme continues.

The firm said its core categories are "resilient" despite a late start to spring hurting footfall. B&Q sales fell 3.0% annually on a reported basis to GBP1.03 billion and were down 4.1% on a like-for-like basis. Screwfix sales increased 5.5% to GBP712 million, or 4.1% on a like-for-like basis.

Looking ahead, Kingfisher said it is on track to deliver its full-year guidance. It expects adjusted pretax profit between GBP565 million and GBP625 million for the full financial year to the end of January 2027, higher than GBP560 million it had reported for financial 2026.

CEO Garnier said: "While mindful of the consumer environment, we remain absolutely focused on delivering our strategy, disciplined gross margin and cost management, and consistent shareholder returns. We are confident in achieving our full-year guidance and are well positioned to capitalise on the attractive long-term growth opportunities across our markets."

Garnier is set to leave Kingfisher within the next 12 months to join Zaandam, Netherlands-based food retailer Ahold Delhaize NV. The move was announced by both companies at the start of May, with Kingfisher saying it is looking for a successor.

Kingfisher shares were up 3.8% to 306.30 pence each on Tuesday morning in London.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2026 Alliance News Ltd. All Rights Reserved.

Kingfisher