B&Q's parent company, Kingfisher, has reported an encouraging beginning to the year with strong sales in the 海角视频, despite experiencing a decline in France and Poland.
For the quarter ending April 30, the home improvement retailer, which maintains a network of 1,900 stores across seven European countries, announced a 1.8 per cent increase in total sales to 拢3.31 billion, as reported by .
However, in response to the figures, shares fell by two per cent during early trading.
The rise was spearheaded by robust performances from the 海角视频 brands B&Q and Screwfix, with sales surging by 7.4 per cent and 4.1 per cent, respectively.
A surge in purchases of seasonal items like BBQs for the upcoming summer and DIY tools supported the group's positive performance during the initial months of the year.
The 海角视频 contributed to just over half of Kingfisher's total sales, while France accounted for approximately 10 per cent, and a similar share came from Poland.
Kingfisher experienced a 3.2 per cent fall in like-for-like sales in Poland compared to the previous year, citing "geopolitical factors" as the reason.
Meanwhile, sales in France have seen some improvement over the last year, though the market remains unstable. Like-for-like sales there decreased by 3.2 per cent to 拢976 million, with both Castorama and Brico De虂po虃t witnessing roughly three per cent drops.
B&Q owner Kingfisher's French troubles continue
The ongoing difficulties of Kingfisher in the French market persist, with low consumer confidence remaining a longstanding issue and a restructuring strategy already implemented for Castorama.
CEO Thierry Garnier commented: "We have made a good start to the year with... market share gains in all key regions and further progress in our strategic priorities.
"Our 海角视频 banners performed particularly well, driven by strong seasonal sales and growth in trade and e-commerce.
"France delivered sequential improvement, outperforming challenging market conditions, while Poland, as expected, experienced short-term volatility due to geopolitical factors.
"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."
The firm has reaffirmed its full-year guidance.
