Market Decline Impacts Performance At Kingfisher France

Kingfisher has published half year results for the six months ended 31 July 2025 (unaudited).

Kingfisher Group results

B&Q and Screwfix results

Kingfisher France results

Kingfisher Poland and other international

Kingfisher France

Market

• Market decline of low to mid single digits.
  
  
• Subdued French consumer in H1, despite lower interest rates, higher mortgage lending and increased housing starts.
  
  
• Consumer sentiment remains subdued amidst an uncertain political environment.

Castorama

• Total sales -1.3% (LFL -1.4%) to £1,074m with improving sequential trends by quarter (Q1 LFL -3.0%, Q2 LFL flat).  
  
  
• Underlying LFL sales performance (excluding calendar and leap year impacts) across core and ‘big-ticket’ categories reflected the subdued but improving housing and market backdrop, while seasonal sales were positive for the half, supported by favourable weather.  
  
  
• Market share gains (as measured by GfK), as Castorama remained focused on delivering strategic priorities. 
  
  
• Castorama has successfully rolled out its ‘CastoPro’ trade proposition across the Castorama France estate in the past 6 months. Trade penetration reached 3.1% at the end of H1 (end of H1 24/25: 0.3%). 
  
  
• E-commerce sales increased by +32.7% YoY to £98m, with e-commerce sales penetration increasing to 9.0% (H1 24/25: 6.8%). E-commerce growth was driven by the rapid expansion of Castorama’s marketplace – reaching online penetration of 19.1% – and continued success of Hello Casto, the inhouse developed AI virtual assistant, which enhances customer experience and supports conversion.  
  
  
• Castorama also successfully opened its first two franchise stores in June 2025, following the transfer from the existing estate. As of 31 July, Castorama had a total of 94 stores in France (including 2 Franchise stores). 

Update on Castorama’s store restructuring and modernisation plan

Castorama is making rapid progress in the restructuring and modernisation of its lowest-performing stores, as part of the France plan. The programme continues to focus on four areas: rightsizing, comprehensive refits/modernisations, transfers to Brico Dépôt, and franchising. In the prior year, 13 stores were addressed under these initiatives, delivering encouraging early results:

• Four rightsized stores, following their reopening, delivered significant double-digit percentage improvements in sales density compared to the Castorama France average.
  
  
• A comprehensive refit of the Toulon La Seyne store was completed in H1 and has resulted in a LFL sales ahead of the Castorama France average.  
  
  
• Five modernisations, following their reopening, delivered improvements in sales density compared to the Castorama France average.  
  
  
• One store, transferred to Brico Dépôt in the prior year, was successfully reopened under the Brico Dépôt banner in H1 and is currently performing in line with expectations. 
  
  
• The first two franchises were opened in June are also trading in line with expectations.  

Building on this momentum, Castorama has initiated work on a further 11 stores across the same four areas. Full details of these developments will be shared as part of our FY 25/26 results announcement. 

Brico Dépôt

• Total sales -2.5% (LFL -2.9%) to £974m, with improving sequential trends by quarter (Q1 LFL -3.3%, Q2 LFL -2.4%) and performance in line with the market (as measured by GfK). 
  
  
• Core sales were softer, particularly in building and joinery, as the heatwave impacted larger building projects. Seasonal categories performed well, benefiting from increased demand during the warmer period. Big-ticket LFL sales were positive, supported by recent range reviews. 
  
  
• Brico Dépôt’s lower exposure to seasonal and outdoor categories meant it benefited less from favourable Q2 weather conditions than Castorama, while its greater weighting in building and joinery was more exposed to the impact on building projects. 
  
  
• Continued development of trade proposition, with service desks, dedicated colleagues and an enhanced loyalty programme. Trade penetration reached 12.1% at H1 (H1 24/25: 9.5%).  
  
  
• Brico Dépôt successfully opened the Castorama store in Q1 that was transferred to its banner in the prior year. As of 31 July, Brico Dépôt had a total of 127 stores in France. 

France Retail profit

• Gross margin increased by 110 basis points, reflecting the effective management of product costs, supplier negotiations, lower stock provisions driven by better inventory management, and lower logistics costs from the reduction in DC space.
  
  
• Operating costs increased by 0.8%, with increases in staff pay, social taxes, partially offset by savings from our structural cost reduction programme. Retail profit increased +4.6% to £72m (H1 24/25: £69m, at reported rates). 
  
  
• Retail profit margin % increased by 20 basis points to 3.5% (H1 24/25: 3.3%, at reported rates).  

Screwfix France & Other

• ‘Screwfix France & Other’ includes Screwfix France, and results from franchise and wholesale agreements. 
  
  
• Screwfix remains focused on building brand awareness in northern France (25% at H1, +7pts YoY) and enhancing its customer proposition through Screwfix Sprint, trade brands and trade-focused campaigns. Store LFL sales grew +52% (3).
  
  
• Screwfix had a total of 30 stores in operation in France as of 31 July 2025 (H1 2024/25: 25). Targeting up to 5 store openings in FY 25/26. 

Source : Kingfisher plc

Image : Kingfisher plc

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.