DIY
The latest news, updates and analysis on the DIY and home improvements segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Jul- 2024 -12 July
Carpetright drafts in advisers to explore sale
Carpetright has reportedly been put up for sale amid increased competition and a slowdown in demand, according to The Times. The company has drafted in advisers PwC to launch a formal sales process with a sale likely to be completed as a pre-pack deal. It could also come in the…
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10 July
Travis Perkins appoints Pete Redfern as new CEO
Travis Perkins has announced the appointment of Pete Redfern as its new chief executive officer, following an “extensive and rigorous” search process. Effective from 16 September, Redfern will succeed Nick Roberts who will step down from his role as CEO on the same day. Redfern will bring over two decades…
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3 July
Topps Tiles Q3 sales fall 6.9% amid ‘subdued demand’
Topps Tiles has reported that sales were 6.9% lower year-on-year during the third quarter to 29 June, as the trading environment remained “broadly unchanged” from that described in its interim results on 21 May. It revealed group sales were also 6.2% lower than the prior year in the 39-week period.…
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3 July
B&Q appoints new director of responsible business
B&Q has announced the appointment of Joanna Gluzman as director of responsible business. Gluzman has over 25 years of experience spanning ESG and investor relations, most recently at PZ Cussons, a FTSE 250 FMCG company as chief sustainability officer overseeing the sustainability strategy and implementation internationally. She has also held…
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Jun- 2024 -26 June
Sharps Bedrooms acquires Clever Closet
Sharps Bedrooms, the fitted furniture company, has revealed it has completed a deal to acquire Clever Closet for an undisclosed sum. Set up in 2010 by founder Paul Jacob, Clever Closet provides fully fitted under stairs storage and loft solutions across the UK. Jacob will continue to support the business…
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13 June
Kingfisher unveils new decarbonisation targets for vendors
B&Q owner Kingfisher has unveiled “ambitious” decarbonisation targets for its vendors as part of an ongoing plan to reduce carbon emissions.The company said it will work alongside the suppliers to hit three levels of common target, depending on the scale of their impact on Kingfisher’s Scope 3 emissions. The targets…
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12 June
DFS slashes FY guidance amid Red Sea disruption and weak demand
DFS has downgraded its full-year guidance amid “challenging” consumer demand and ongoing disruption issues in the Red Sea, which have caused delivery delays and higher freight costs. In its latest update, the company said it now expects profit-before-tax to be in the range of £10m to £12m in the full-year, down…
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May- 2024 -21 May
Topps Tiles sees profits and sales fall amid ‘weak market’
Topps Tiles posted a loss before tax of £1.5m for the 26 weeks ended 30 March 2024 as it faced a “challenging” tile market. The group also saw revenues decline 5.8% to £122.8m, down from £130.3m the previous year. It said this was impacted by lower footfall which led to…
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21 May
B&Q owner holds guidance as UK&I outperforms European arms
Kingfisher has announced that it will be maintaining its profit guidance after Q1 sales at B&Q in the UK and Ireland offset its weaker performance at its groups in France and Poland. During the period to 30 April, sales rose 0.3% to £3.3bn. However, sales declined 0.9% on a like-for-like…
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8 May
Carpetright announces restructuring, 70 jobs at risk
Carpetright has announced restructuring plans across a number of departments to “better support regional stores and digital plans”. A staff reduction of just over 25% will affect the company’s central support centre and field management teams leading to approximately 70 job losses. The company stated that this reduction in central…
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