The group’s interim results show B&Q’s retail profit declined by 24.1% to £125m, while its sales were down 3% (-6% on a like-for-like basis).
Sales of B&Q’s outdoor seasonal products fell around 11% with average footfall down 20% in the severely weather-affected weeks.
Higher seasonal markdown were introduced to clear excess seasonal stocks. Building products sales were also impacted by the adverse weather, but indoor decorative product purchases were up as customers switched some of their home improvement activities indoors.
“This has been a tough first half with unprecedented wet weather throughout the key spring and summer seasons in northern Europe,” said Ian Chesire, Kingfisher group chief executive.
“This affected footfall and demand for outdoor maintenance, gardening and leisure products, which normally account for a significant proportion of our first half sales.”
Meanwhile Screwfix’s sales grew 8.9% to £273m, despite the challenging smaller tradesman market. It benefited from new outlet openings and the success of a “click, pay & collect” facility.
Its retail profit was up 19.1% to £20m. B&Q and Screwfix are increasingly working in close partnership. They are are jointly developing several major initiatives and adopting a complementary strategy for UK growth.
As a result, from next year Kingfisher’s reporting will feature one overall profit figure for its UK operations (combining B&Q and Screwfix).
