Kingfisher Trading Update Q1 2024

Kingfisher plc has provided its Q1 24/25 sales figures. The group achieved sales of £3.3bn for the period to April 30, 2024.

Thierry Garnier, Chief Executive Officer, said: “Trading in the first quarter has been in line with our expectations. We have seen continued resilience in our core categories, although ‘big-ticket’ sales have been weak reflecting the broader market as expected. In the UK, we have gained considerable share across our banners. Our trade proposition continues to resonate with customers, driving positive LFL sales at Screwfix and strong LFL sales growth of 8.5% at TradePoint. In France, while slightly improved on Q4, trading reflects the weak overall retail market. And in Poland, we are seeing encouraging sales trends as the consumer environment improves.

“We continue to drive our strategic priorities at pace and remain focused on delivering market share growth. Our e-commerce sales grew by 12.7% and we successfully expanded our marketplace model to France. We delivered further expansion of Screwfix in France, and advanced our data, AI and retail media initiatives. Leveraging our learnings from TradePoint in attracting trade customers in the UK, we are excited to have widened trade loyalty programmes across all our banners.

“We remain focused on driving productivity gains and maintaining tight control of our costs and inventories. In France we are pushing ahead with our plan to improve performance, having successfully completed our structural simplification and transitioned to new leadership at Castorama.

“Looking forward, we confirm the guidance outlined in March for the full year, including our expectations for the overall market in 2024.”