London, June 8, 2026, 15:08 BST
Kingfisher PLC dropped in London trading Monday afternoon, falling behind a steady FTSE 100 as investors looked again at the B&Q owner’s outlook for summer demand after a tough first quarter hurt by weather. The shares lost 0.9% to 281.5 pence by 15:08 BST, with the London Stock Exchange still open until 16:30 BST.
Kingfisher shares dropped, even though the company’s last trading update had settled some nerves without changing much. The FTSE 100 held steady near 10,367.38 around the same time, so Kingfisher’s move looked like an isolated drop rather than something broader.
Like-for-like sales are now in the spotlight. Kingfisher said last month its first-quarter underlying like-for-like sales slipped 0.7%. But total sales, which include marketplace gross merchandise sales, edged up 0.8%.
Chief Executive Thierry Garnier said it was a “resilient start to the year” for the group. He told investors the company was “gaining market share against a soft market backdrop”. E-commerce and trade sales both showed double-digit growth, which Garnier highlighted as areas getting attention from investors while consumer DIY spending remains inconsistent.
UK numbers are uneven. Reuters said on May 26 that Screwfix comparable sales gained 4.1% in the quarter to April 30, but B&Q dropped 4.1%, dragged down by more seasonal goods like garden furniture and plants. France saw sales drop 2.1% and Poland was off 0.2%.
Kingfisher is sticking with its full-year outlook for adjusted pretax profit, keeping the target at 565 million to 625 million pounds. The company also said it still sees free cash flow at around 450 million to 510 million pounds. A 300 million pound share buyback is underway.
Russ Mould, investment director at AJ Bell, told the Guardian the update showed Kingfisher had “kept investors on side” since there were no downgrades. He added that trade customers might offer more stable sales than regular shoppers as tools and materials are “not a nice-to-have”. The Guardian
Peers didn’t move much either. Wickes Group ticked up 0.3% to 172.87 pence and Travis Perkins dropped 0.6% to 539.5 pence. The changes didn’t point to any wider shift for UK repair, maintenance or home improvement stocks.
European stocks pared losses as oil prices came off session highs. Iran’s call to end military action against Israel took some pressure off energy markets, though the tape stayed choppy. Higher energy costs, if sustained, still threaten to squeeze households and curb spending on non-essentials.
But the downside is clear. If warmer weather returns, some garden and outdoor demand might show up in June, but if the season stays slow B&Q is vulnerable. Trade demand still needs households to greenlight home repairs and renovations. If that doesn’t happen, strong numbers at Screwfix may not cover for softer DIY from consumers.
Kingfisher’s annual general meeting is set for June 26 in London, the next key date for investors. Until then, traders will focus on weather, UK consumer figures, and whether last month’s profit guidance holds up.
