5:49 pm - March 24, 2026
FTSE 100 DIY retailer Kingfisher reported mixed financial results as strong UK performance was offset by declining sales in France and Poland. The company, which owns B&Q and Screwfix, saw UK operations climb more than three per cent while French divisions Castorama and Brico Depot experienced drops of 2.2 per cent and 2.3 per cent respectively, according to results released on March 24, 2026.
The home improvement retailer recorded an adjusted pre-tax profit of £560m, representing a six per cent increase from the previous year. Total Kingfisher sales across all operations edged up by just 0.2 per cent, highlighting the challenging retail environment facing the company.
UK Operations Drive Kingfisher Sales Growth
B&Q and Somerset-based Screwfix delivered robust performance despite broader market challenges. The company attributed this success to a focus on e-commerce, strong seasonal sales periods, and B&Q’s strategic acquisition of several former Homebase stores.
Kingfisher shares rose two per cent during early Tuesday trading to 302p, leaving the stock up eight per cent over the past year. However, the share price remains down more than 10 per cent since the pandemic-era DIY surge when home improvement spending reached record levels.
French and Polish Markets Weigh on Overall Performance
The DIY retailer has been grappling with persistent underperformance in France and Poland, with Castorama France ranking among Kingfisher’s most challenging operations, according to analysts. Polish operations declined 1.1 per cent during the reporting period.
Additionally, major big-ticket purchases such as kitchen renovations have proven difficult to move across all markets. French Castorama experienced a 4.5 per cent year-on-year decline in sales for major purchases, as consumers reduce discretionary spending amid economic pressures.
Physical Expansion Continues Across Markets
Kingfisher pressed ahead with store expansion in the UK despite challenging conditions. Screwfix launched 32 new sites while closing five locations, continuing its strategy of bringing its trade-focused offering closer to customers.
Meanwhile, B&Q opened 10 new outlets, including eight converted from former Homebase properties, while closing three stores. The company recorded 41 net openings across its international brands, demonstrating commitment to physical retail presence.
Trade Customer Focus Drives Home Improvement Strategy
The home improvement retailer said it aims to drive growth by concentrating on sales to tradespeople, who shop more frequently and spend more than typical customers. This strategic shift reflects broader industry trends toward professional contractor business.
However, the company has established dedicated trade zones in each of its outlets to capture this higher-value segment. Trade sales grew five per cent at B&Q and four per cent at Screwfix, while Castorama Poland recorded impressive growth of 47 per cent in this category.
Cost Reduction Efforts Continue
The business has concentrated on reducing costs in recent years, having shed £120m in excess expenditure last year. These efficiency measures have helped support profit growth despite relatively flat overall sales performance.
In contrast to the challenging sales environment, Kingfisher unveiled a new £300m share buyback programme. The company has repurchased £1.2bn in shares since 2021, returning significant capital to shareholders.
Looking ahead, B&Q and Screwfix will be anticipating the spring DIY surge that typically arrives each year, as rivals suggest the UK’s ageing housing stock maintains elevated demand for home improvement products. The company’s ability to reverse declining trends in France and Poland will likely determine whether overall Kingfisher sales can achieve meaningful growth in coming quarters.
