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Screwfix reaches £2bn in yearly sales

Its growth has facilitated both a portfolio expansion and a recruitment drive

Omnichannel retailer Screwfix has surpassed £2bn in sales for the year to January 2021, creating thousands of new jobs in the process.

The firm has also managed to open 30 new stores in the period, bringing its UK and Ireland portfolio to 725.

The sales milestone represents a doubling in revenue over the past five years, during which the group has, on average, opened a new store every week.

Moreover, some 4,000 jobs have been created by the retailer over the past half decade, including over 1,000 colleagues under the age of 24.

John Mewett, CEO at Screwfix, said: “We have continued to keep our customers supplied safely whilst creating opportunities for our colleagues. 

“We have also been able to give back to our communities when they have needed support the most. I’d like to thank all of our colleagues and customers for their incredible support during what has been an extremely challenging year.”

The milestone has been hit two weeks after its parent company Kingfisher, which also owns retail brands such as B&Q, Castorama, and TradePoint, reported a growth in Q4 2020 sales of nearly 17%. 

The group also reported that it expects its adjusted profit before tax for the financial year to 9 January to be upwards of £742m.

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