Multiple reports indicate Kingfisher's annual profits rose 6% to £560 million for the year ended 31 January 2026, while the company's share price jumped 2% in early trading on Tuesday to 302p. Kingfisher also announced a new £300 million share buyback programme. Chief executive Thierry Garnier stated that with a mixed consumer environment across markets, the company continues to focus on delivering strategic priorities, maintaining cost discipline and driving shareholder returns.
Kingfisher's total sales across all brands edged up by only 0.2%, reflecting a mixed performance across regions. The company saw trade sales growth of 5% at B&Q, 4% at Screwfix, and 47% at Castorama Poland, but sales in France and Poland declined, with Castorama France down 2.2%, Brico Depot France down 2.3%, and Poland down 1.1%. According to multiple reports, Kingfisher's strong UK performance is due to a focus on e-commerce, seasonal sales boosts, and B&Q's acquisition of Homebase stores.
In terms of expansion, Kingfisher opened 41 net new stores globally, with Screwfix opening 32 and closing 5, and B&Q opening 10, including 8 converted from Homebase, and closing 3. The company also offloaded £120 million in excess weight last year as part of cost-cutting measures.
Challenges persist in France, where Kingfisher's Castorama brand is suffering most from a drop in appetite for big-ticket items, with sales for these products down 4.5% year on year.
Kingfisher faces higher employment costs in the UK. Additionally, the company may face investor jitters over the impact of the war in the Middle East on the British housing market and consumers' energy bills.
Historically, Kingfisher's profits surpassed the £1 billion mark for the first time in 2022. Meanwhile, competitor Wickes announced plans to open 70 new stores after growing across every part of its business.