Cold Weather Dampens Barbecue Sales At B&Q

B&Q sales growth slowed at the start of the year as cold weather cooled sales of barbecues and outdoor furniture.

But products such as wallpaper, indoor lights, power tools, and fireplaces – as well as a trend for repainting sheds – helped the DIY chain through the chilly period.

In a trading update by owner Kingfisher (LSE: KGF.L - news) , B&Q's UK and Ireland (Other OTC: IRLD - news) network posted a 3.6% rise in same-store sales for the first quarter to the end of April, down from 4.4% growth in the fourth quarter.

Seasonal like-for-like sales tumbled by 14.3% as chilly conditions continued into the early spring but non-seasonal like-for-like sales climbed by 7.3%.

The latter was apparently aided by home owners repainting their sheds with popular colours including black or two-tone blue or green.

Overall revenues at B&Q were down compared with the same period last year reflecting a programme of 65 store closures at the business. Ten of these took place in the period and 40 have now been completed.

Meanwhile the Kingfisher update revealed further strong growth at its Screwfix brand, where same-store sales were up by 16.2% - helped by its new ranges and online offer.

B&Q notched up sales of £951m for the period while Screwfix took £301m.

Kingfisher's French businesses saw a mixed picture, with like-for-like sales little changed after a decline at Castorama but an increase at Brico Depot. There was growth in Poland but the group's Spanish and Russian operations saw declines.

Total (LSE: 524773.L - news) group revenue for the period was £2.72bn. It (Other OTC: ITGL - news) represented a 3.6% improvement on the same period last year on a like-for-like basis. Shares (Berlin: DI6.BE - news) rose 3%.

Kingfisher chief executive Veronique Laury said: "We have made a solid start to the year, trading in line with expectations. In addition, I am pleased with the early progress we are making on our operational milestones for this year."