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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May- 2024 -1 May
Wickes maintains FY outlook despite LFL sales decline
Wickes has maintained its full-year profit guidance, despite overall like-for-like sales for the first 16 weeks to 20 April falling by 4.2% against the same period last year. While it said the trading environment remains uncertain, the group expects its “solid” start to the year within its retail offering to…
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Apr- 2024 -24 April
Dobbies appoints new board advisor for its restaurant business
Dobbies, the UK’s garden centre retailer, has appointed hospitality professional Robert Cook as a board advisor to support the strategic development of its restaurant business. Cook has led a number of the UK’s hospitality and leisure businesses including TGI Fridays, Malmaison and Hotel du Vin, and Virgin Active. Dobbies has…
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18 April
Bensons for Beds appoints new CCO
Bensons for Beds has announced the appointment of Mark Slater as chief commercial officer (CCO), which will see him become part of the retailer’s executive team. Having joined the business in an interim capacity in February, Slater brings with him experience from the executive team of Howdens. Prior to that,…
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5 April
Carpetright calls in advisers to cut costs
Carpetright has reportedly called in advisers to help it explore cost cutting measures as demand weakens and competition increases, according to The Times. The carpet retailer has appointed Teneo to consider a number of options which could include store closures. In recent years the company has struggled to deal with…
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Mar- 2024 -25 March
Kingfisher profits drop amid poor international performance
Kingfisher has seen its pre-tax profits drop 25% to £568m for the year ended 31 January, down from £758m the year prior. The company has put this drop down to poor international sales specifically in France and Poland. As a result, the company is now predicting full year profits of…
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21 March
Kingfisher mulls bid for Homebase stores in Ireland
Kingfisher, the owner of B&Q, is reportedly mulling a bid for Homebase’s stores in the Republic of Ireland, following reports the wider Homebase business is up for sale. According to The Times, the move would see the end of Homebase stores in the country, as Kingfisher would most likely rebrand…
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19 March
Wickes welcomes ‘robust’ FY23 trading amid Solar Fast acquisition
Wickes has announced a “robust” trading performance for the year ended 30 December 2023 as it confirms that it has acquired a 51% stake in Gas Fast Limited, parent company of Solar Fast. In FY23, statutory profit before tax increased 2% to £41m as the group reported an 11% increase…
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19 March
Ikea introduces new round of price cuts ahead of Easter
Ikea has announced its next wave of price cuts on hundreds of its most popular items ahead of the Easter holidays, to provide customers with a more affordable life at home. The group is passing on £125m in savings as cost pressures ease out. As a result, 400 items are…
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15 March
Bensons For Beds returns to profitability in FY23
Bensons For Beds has reported a return to profitability as turnover grew by 7.5% to £257.5m for the 53 weeks to September 2023, along with reported EBITDA profits of just over £1.5m from a previous loss of £15.4m. The bed retailer has attributed its performance to the implementation of its…
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12 March
Matalan fell to £100m loss before takeover, filings reveal
Matalan fell to a pre-tax loss of £103.4m in FY23, widening from a £7m loss the prior period, in a year that saw the group rescued by a group of investors. According to newly-filed accounts with Companies House, EBITDA fell to £124.1m in the year ended 25 February 2023, down…
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