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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Apr- 2023 -18 April
B&M axes online home delivery offering
B&M has axed its online home delivery service after trialling the offering, according to coverage from Retail Week. According to Retail Week, the discount retailer was still offering home delivery through its website in January but discovered that the service was made unavailable in February. The service was first launched…
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5 April
Screwfix to open 85 new stores in 2023
Screwfix, the omn-ichannel retailer, has announced plans to open up to 85 new stores across the UK, Ireland and France by the end of January 2024, creating more than 800 jobs in local communities. The announcement follows a record year of store openings in 2022, including its first five stores…
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5 April
Topps Tiles revenues hit ‘record’ high in H1
Topps Tiles has welcomed a period of “record” revenues for the group in the first half of the year, with revenues of £130.5m, £11.3m or 9.5% higher than the prior year. Around £9m of its revenue growth in the period was attributed to the acquisition of Pro Tiler Tools and…
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Mar- 2023 -23 March
Wickes FY profits fall despite growing sales
Wickes has revealed that pre-tax profits dropped to £40.3m after absorbing non-recurring costs of £35.1m, despite reporting a like-for-like increase of 3.5% in sales for the year ending 31 December 2022. During this period, the DIY retailer’s net cash position also stood at £99.5m compared with £123.4m in the same…
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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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