Kingfisher sales shrank by 4.1 per cent in H1 2022

UK-based Kingfisher's sales were down by 2.8 per cent year-on-year in H1 2022. Like-for-like sales also fell by 4.1 per cent, according to the company. Part of the reason for the decline is a comparison of the current figures with the boom year of 2021. In a 3-year comparison, i.e. with 2019, comparable sales at the end of H1 2022 were 16.6 per cent higher. Total e-commerce sales at the end of H1 were down by 19 per cent year-on-year, but up by 156 per cent on 2019.

“While facing very strong comparatives from the prior year as well as a more challenging environment, LFL sales were 16.6 per cent ahead of pre-pandemic levels with a sequential improvement from Q1 to Q2,” explained Thierry Garnier, CEO of Kingfisher. “We are now back to pre-pandemic levels for in-store product availability and maintaining competitive pricing across our banners.” According to Garnier, Kingfisher remains vigilant against the more uncertain economic outlook for the second half, looking to the months ahead.

In the first half of 2022, B&Q launched its first home improvement marketplace and is now preparing for marketplace launches in France, Poland and the Iberian peninsula. The company also wants to continue to invest in the trade segment through Screwfix's expansion in the UK and Ireland, as well as the further development of its offer for tradespeople across banners building on TradePoint. Kingfisher also announced the opening of its first Screwfix stores in France a few weeks from now.

The company said gross sales in the B&Q marketplace recently exceeded expectations and accounted for 8 per cent of B&Q's total e-commerce sales in August 2022.