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B&Q owner maintains guidance on resilient DIY market

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B&Q owner Kingfisher said today that its like-for-like sales fell 5.4% in the quarter to April 30 year-on-year but were up 16.2% on a three-year basis.

The group owns B&Q and Screwfix in Ireland and Britain and Castorama and Brico Depot in France and other markets.

It said it was making strong market share gains and had good momentum into the second quarter with like-for-like sales down 2.5% for the two weeks to May 14 but up 21.8% on a three-year basis. Kingfisher said it was continuing to manage inflation pressures effectively and product availability was good, approaching pre-pandemic levels.

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