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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Dec- 2022 -22 December
Oak Furnitureland revenues hit £275.3m in FY22
Oak Furnitureland has revealed its revenues increased 10% to £275.3m in the financial year ended 30 June 2022. The furniture retailer’s gross margins also increased to 54.2% in 2022 compared with 51.7% in the previous year. In addition, operating profit reached £7.1m compared with £5.4m in the previous year. However,…
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6 December
Victorian Plumbing revenues recover in H2
Victorian Plumbing has revealed its performance recovered in the second half of the year with revenues up 6% meaning its FY revenues came in ahead of expectations broadly flat at £269.4m (2021: £268.8m). For the 52-week period ended 30 September 2022, the bathroom retailer said its average order value was…
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Nov- 2022 -30 November
Topps tiles announces second consecutive year of record revenue
Topps tiles has announced a second consecutive year of record revenues, as its gross revenues increased 8% to £247.2m. For the full-year period ended 1 October 2022, it confirmed that gross profit was up nearly 4% to £135.4m compared with £130.7m for 2021. Adjusted profit before tax was also up…
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25 November
ScS hails resilient trading despite challenging conditions
Furniture retailer ScS has said it is “encouraged” by a period of “resilient trading” despite facing challenging economic conditions. In a trading update ahead of its AGM, it revealed like-for-like order intake has seen an improvement in recent weeks, with trading ahead of the prior year. Total like-for-like order intake…
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24 November
Kingfisher lowers upper end of FY guidance
Home improvement retailer Kingfisher has lowered its upper guidance for its FY 22/23 pre-tax profit range despite seeing an increase in sales for the three months to October 31. The B&Q owner said it now expects its FY adjusted pre-tax profits to come in between £730m to £760m. However, overall…
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23 November
Halfords H1 profits fall to £29m amid ‘softening’ trade
Halfords has reported that underlying profit before tax fell by 49.9% to £29m in the first half of the year, down from £57.9m the prior year, despite a “resilient” performance in the period. The group also downgraded its full-year guidance after a “softening” of trading in discretionary areas of spend,…
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11 November
The Works sales rise in H1 despite online slowdown
The Works has reported total sales for the half-year increased by 2.1%, with total like-for-like sales having increased 0.6%. Store trading was also positive, having increased by 3.5% on a like-for-like basis. However, the group’s online sales declined by 16.9% over the period, though results show it is still 50%…
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10 November
B&M maintains FY23 outlook despite £40m profit drop
B&M has maintained its previous guidance for the full year (FY23) with group adjusted Ebitda expected to be in the range of £550m-£600m, as the company expects to retain customers due to the economic crunch. This comes despite a 16.7% drop in pre-tax profits year-on-year for the 26 weeks to…
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4 November
Bensons for Beds re-opens Eve Sleep’s UK website
Bensons for Beds has re-opened evesleep.co.uk less than three weeks after it bought eve Sleep’s brand and intellectual property. As it revealed in October, Eve Sleep is being retained by Bensons as a standalone brand. Returning in time for the key trading period, it said the website includes its six…
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4 November
DFS order volumes recover in September
DFS has reported that its order volumes have grown relative to FY22 and the pre-pandemic financial year since early September, following the group’s full year result announcement on 15 September. It is reported that the retailer’s overall performance is in line with its mid case scenario of around £36m in…
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