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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Mar- 2023 -21 March
Kingfisher FY22 performance suffers amid strong FY21 comparables
Kingfisher has revealed its post tax profits fell 44% to £471m for the full-year period ended 31 January 2023. The company posted sales of £1.30bn, down 0.9% from the £1.32bn it posted the previous year. It also posted gross profits of £4.8bn down 2.8% from £4.9bn last year and operating…
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21 March
Screwfix acquires assets of Connect Distribution Services Limited
Screwfix, the omnichannel trade retailer and part of Kingfisher plc, has announced it has acquired the stock, intellectual property, contracts and fixed assets of Connect Distribution Services out of administration, for a cash consideration of £3m. Connect Distribution Services Limited is a retailer of appliance spares, accessories and consumables to…
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2 March
Victorian Plumbing welcomes strong start to FY23
Victorian Plumbing has welcomed a “strong” start to the financial year, with revenues up by 10% in the five months to 28 February 2023.Over the period, it also reported an improvement in gross margin and marketing spend efficiency versus the comparative period last year. This performance was said to be…
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1 March
Travis Perkins closes 19 stores as its profits fall 20% to £192m
DIY retailer and building material supplier Travis Perkins has revealed it reduced its store estate by 19 branches and axed 400 roles at the end of last year as its profits after tax fell 20% to £192m. Travis Perkins revealed the cost-saving decision in its full-year results for the year…
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Feb- 2023 -24 February
B&Q and Screwfix staff to receive 8% pay rise
Kingfisher is reportedly set to increase the hourly pay rate for its B&Q and Screwfix staff by more than 8% year-on-year, Retail Week has revealed. The changes will be effective from the beginning of the new financial year. Shopfloor workers across both businesses will see their pay rise to £10.60…
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21 February
Wilko unveils new leadership team
Wilko’s new CEO Mark Jackson has announced a new senior leadership team which forms part of its plan to stabilise the business and “accelerate” its turnaround. The group has appointed Dave Murphy, currently group finance director, as its new CFO replacing Karen Mackay, who has resigned from the company and…
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14 February
Former Topps Tiles CEO acquires Tile Giant out of administration
Specialist retailer Tile Giant has been sold out of administration to two separate companies; Stiled Holdings and CTD Tiles. Interpath Advisory were named as administrators on 13 February 2023 and instantly sold the business to the two parties. Stiled Holdings, which is lead by the former Topps Tiles CEO Matt…
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3 February
Screwfix closes in on 1,000 store target with 87 new sites in 2022
Trade retailer Screwfix is on track to reach its ambition to open more than 1,000 stores across the UK, Republic of Ireland and France, following the opening of 87 stores in the past 12 months. The retailer opened 72 new stores in the UK, 10 in the Republic of Ireland…
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2 February
ScS maintains outlook as it returns to growth
Furniture and flooring retailer ScS has revealed it expects to meet its full-year market expectations after it returned to growth in the 10 weeks to 28 January 2023. In an interim update, it said like-for-like order intake momentum “improved significantly” throughout the period and the group returned to growth of…
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Jan- 2023 -27 January
Bensons for Beds sales up 7% over Christmas
Bensons for Beds saw like-for-like sales rise 7% for the last three months of 2022, compared to the same period the previous year. The group has attributed its performance to its investment in its stores and online platform, following leadership changes made in the summer. Across the quarter, the retailer…
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