B&Q owner Kingfisher has raised its full-year profit target despite facing weaker market conditions in the UK. The retail group increased its guidance to between £540 million and £570 million, up from a previous range of £480 million to £520 million, as strong demand for big-ticket items and e-commerce growth offset softer trading.
The upgrade comes as Kingfisher reported group like-for-like revenues up 0.9% to £3.25 billion for the three months to October 31. UK and Ireland like-for-like sales climbed 3% to £1.69 billion over the quarter.
Kingfisher operates more than 1,800 stores globally, including B&Q and Screwfix in the UK.
Growth Strategy Delivers
Chief executive Thierry Garnier pointed to strategic initiatives driving the performance: "We delivered another quarter of high-quality, volume-led growth, driven by our group strategic initiatives in e-commerce and trade and by our performance in core and 'big-ticket' categories."
He added: "B&Q, Screwfix and Iberia continue to strongly outperform their markets. Our performance to date and progress in our strategic initiatives give us the confidence to upgrade our full-year profit guidance."
UK Market Challenges
The company acknowledged headwinds in its home market. Kingfisher said it remains "mindful of inflation, uncertainty ahead of the autumn Budget and the softening labour market."
The wider UK market was "slightly negative" over the quarter. However, Kingfisher said it has been buoyed by its growth strategy and the closure of Homebase stores over the past year.
Investor Reaction
Shares in the retail firm jumped 4.9% in early trading on Tuesday.
Adam Vettese, market analyst for investment platform eToro, said: "While Kingfisher's share price has outperformed the FTSE 100 in 2025 and current technicals remain constructive, ongoing macroeconomic uncertainty and soft consumer demand in some regions could moderate further upside in the near term."
He added: "Investors are encouraged by the group's balance of prudent cost control and targeted capital returns but will be closely watching management's progress in reviving French operations and sustaining group-wide margin improvements."
Note: This article was created with Artificial Intelligence (AI).
