Kingfisher who owns B&Q has revealed their sales have bounced back due to the warmer weather.
In the three months to 30 April UK and Ireland like-for-like sales rose 5.9% higher, and seasonal products increased by 29.8% and Screwfix sales rose by 21.2%.
Kingfisher chief executive Thierry Garnier said, “Our UK banners performed particularly well, driven by strong seasonal sales and growth in trade and e-commerce.”
He said he remains cautious even though sales were better than expected in Q1.
He said, “It is still early in the year and consumer sentiment remains mixed across our markets.”
He added, “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.”
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.”
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