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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Sep- 2022 -7 September
Halfords revenue up 9.2% as group targets £75m profit in FY23
Halfords has revealed a total revenue growth of 9.2% against the prior year in the 20-weeks ended 19 August 2022. Total revenue was also up by 30.3% against FY20, with all segments showing a like-for-like growth over three years. Against FY20, revenue at its autocentres increased by 28.2%, while retail…
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Aug- 2022 -11 August
Halfords cuts prices to help ease the rising cost of motoring
Halfords has announced it has launched new initiatives, including cutting its prices across all of its motoring products, in a bid to to help UK consumers with the rising cost of motoring. Halford said it comes as its own research found that one in six drivers are “trying to spend…
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Jul- 2022 -19 July
Made.com issues FY profit warning amid ‘volatile’ trading
Made.com has issued a profit warning for FY22 as recent trading has been “volatile” amid worsening consumer confidence, which has in turn impacted demand for big-ticket purchases. According to the retailer, the dip in consumer confidence has made new customer acquisition at financially attractive rates “challenging”, while gross sales for…
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14 July
Topps Tiles stands behind chairman despite shareholder revolt
Bathroom and kitchen flooring retailer Topps Tiles has revealed it is set to stick with its chairman Darren Shapland despite seeing a number of its shareholders vote against his re-election at its AGM back in January. During its AGM at the start of the year, some 22% of its shareholders…
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6 July
Travis Perkins reports progress towards decarbonisation targets
Travis Perkins has announced that it is making good progress towards the ambitious Science Based Targets initiative (SBTi), a set of accredited carbon targets. The company first announced its participation in the initiative last year. It is reported that the group’s implementation of carbon data reporting, introduction of alternative fuel…
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5 July
Wickes and iSite partner to launch shoppable digital content
Wickes has partnered with iSite to launch a “unique” new home improvement space with over 130 online shoppable videos. The group said the recent launch and partnership reinforces the brand’s strategy to support project-based shopping. The new feature is said to be a “great solution” for customers, which merges content…
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4 July
Grafton Group CEO to step down
Grafton Group plc has announced that Gavin Slark has informed the board of his intention to step down as chief executive officer later this year after 11 years in the role. Slark will reportedly continue in his roles as CEO and board director until stepping down from both roles on…
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1 July
Ikea owner launches circular economy hub in Hammersmith
Ikea owner Ingka Group has officially opened a new Library of Things at Livat Hammersmith, a circular economy concept that allows customers to “affordably borrow” everyday items. Items such as drills, sound systems and sewing machines will be available to borrow from the local hub, while Ingka Group said the…
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Jun- 2022 -29 June
B&M retains profit forecast despite Q1 revenue drop
B&M has reported its group revenues declined 2.2% year-on-year from £1.18bn to £1.15bn in the 13 week period ending 25 June 2022 (Q1 FY23). However, the company is retaining its FY23 guidance which expects group EBITDA to be in the range of £550m to £600m. The company’s UK revenues in…
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28 June
Hobbycraft revenues up 15% as online sales soar
Hobbycraft has welcomed a “robust” set of results in its latest financial year, as revenue rose by 14.8% to £203.1m, up from £176.9m in FY21. Its full-year adjusted EBITDA hit £15.0m, meanwhile, up from £13.8m in FY21 and £14.8m in FY20, before the pandemic. Overall, the group saw a total…
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