Kingfisher has today published final results for the year ended 31 January 2025
Overall UK & Ireland Performance
- Total sales increased by 1.2% to £6,456m (LFL +0.2%).
- Market share gains at both B&Q and Screwfix, supported by strong e-commerce sales and trade customer focus.
- Gross margin up by 20bps, driven by effective cost management, supplier negotiations, and retail pricing strategies.
- Retail profit increased by 0.6% to £558m, despite higher operating costs (+2.1%).
- Retail profit margin slightly declined by 10bps to 8.6%.
B&Q Performance
- Sales declined by 0.7% (LFL -0.4%) to £3,820m.
- Growth in core and seasonal categories, but weakness in big-ticket sales.
- E-commerce sales surged by 17.2%, with online penetration reaching 15% (up from 13% in FY 23/24).
- B&Q’s marketplace performed strongly, hitting 43% e-commerce penetration in January 2025.
- Store footprint changes:
- Opened: One retail park store, one compact ‘B&Q Local’ store.
- Closed: One big-box and two medium-box stores.
- Acquired eight former Homebase stores (five in the UK, three in Ireland).
- As of January 2025, 310 B&Q stores in UK & Ireland.
TradePoint Performance (B&Q’s Trade Banner)
- Sales up 6.4%, now accounting for 23.4% of B&Q sales (up from 21.8%).
- Strong category performance, except kitchens (which rebounded in Q4 with new ranges).
- Opened eight new TradePoint counters, now in 217 B&Q stores (70% coverage).
Screwfix Performance
- Sales grew by 4.0% (LFL +1.0%) to £2,636m, driven by strong trade demand.
- LFL growth in tools & hardware, building & joinery, outdoor, and kitchens.
- E-commerce sales up 4.7%, reaching 58% penetration (up from 57% in FY 23/24).
- App sales grew significantly, contributing 22% of total sales.
- Screwfix Sprint (one-hour delivery) expanded to 485 stores, covering 60% of UK population.
- Store expansion & acquisitions:
- Opened 32 new stores (31 in the UK, including 7 ‘City’ ultra-compact formats, and 1 in Ireland).
- Closed two stores, bringing the total to 952 stores as of January 2025.
Key Takeaways for Suppliers
- E-commerce & digital growth are major sales drivers, with increased penetration at both B&Q and Screwfix.
- Trade-focused initiatives (TradePoint & Screwfix’s trade demand) continue to outperform.
- Big-ticket sales challenges at B&Q highlight evolving customer preferences.
- Store expansion and acquisitions indicate continued investment in physical retail.
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