B&Q sales to be warmed up by blistering summer
B&Q is expected to reveal a second-quarter boost from the warm weather this week week, helped by shoppers splashing out on barbecues and garden furniture.
The DIY chain is forecast by analysts at Jefferies to post a 1.3% increase in like-for-like sales for the period when its parent company Kingfisher issues a trading update on Thursday.
It would represent a significant bounce back from the 9% decline recorded in the first quarter, when sales were pummelled by the Beast from the East as the retailer was forced to close stores in the face of extreme weather.
Nicholas Hyett, equity analyst at Hargreaves Lansdown, said: “The warm weather may well have whetted the appetite for barbecues and garden furniture sales, so we expect these categories to perform strongly at B&Q owner Kingfisher.”
B&Q is also likely to benefit from turmoil at rival Homebase, which is embarking on a large-scale store closure programme under its new owner Hilco.