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.
-
Feb- 2023 -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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
26 January
The Cotswold Company appoints three to leadership team
Furniture and homewares brand, The Cotswold Company has announced the appointment of Jim Sharp as chairman, Matt Pollington as chief marketing officer, and Mike Ellis as director of merchandising. Sharp has built his career at Schroeder’s and Jimmy Choo, having chaired several high-growth digital brand-led retailers such as Seraphine, Feelunique,…
Read More » -
24 January
Wayfair to cut 10% of global workforce amid cost saving plan
Furniture retailer Wayfair has announced a 10% reduction in its global workforce, equivalent to around 1,750 employees as part of its new cost efficiency plan. Wayfair said this includes approximately 1,200 or 18% of corporate employees and reflects efforts to eliminate management layers and reorganise to be more agile. Including…
Read More » -
19 January
Topps Tiles chairman survives shareholder revolt
Topps Tiles has revealed that Darren Shapland will remain as its chairman after surviving a vote tabled by its biggest shareholder MS Galleon to oust him. At the company’s AGM, 62.5% of the company’s shareholders voted against the requisition resolution put forward by the Austrian private equity firm. The shareholder,…
Read More » -
13 January
DFS maintains guidance amid strong winter trading
DFS has maintained its profit guidance for the full-year following a strong start to its winter trading period. In the half-year ended 25 December 2022, order intake rose by 10.6% against the pre-pandemic period in FY19, with a “strong” second quarter that was boosted by market share gains. Overall, gross…
Read More » -
12 January
Halfords lowers guidance as lack of technicians hampers growth
Halfords has lowered its full-year profit guidance after it revealed that a challenging labour market meant a lack of skilled technicians combined with a weak tyre market hampered growth. In a trading update for the 13 weeks to 30 December 2022, it confirmed group revenues increased 38.3% and 12.6% LFL…
Read More » -
11 January
Topps Tiles hails strong Q1 trading
Topps Tiles has reported a “strong Q1” with group sales up 10.2% year on year for the 13-weeks ended 31 December 2022. The company stated that approximately half of this growth was down to its acquisition of Pro Tiler Tools. It also believes that the timing of Christmas and New…
Read More »
