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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May- 2022 -31 May
B&M appoints CEO successor as FY revenues dip
B&M has revealed that sales dipped in its latest full-year results, alongside the announcement of a new CEO, as revenue fell by 2.7% to £4.7bn against the prior year, despite increasing 22.5% on a two-year basis against FY20. Its UK fascia revenue decreased 4.1% year-on-year, largely driven by a one-year…
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26 May
Wickes sales dip despite ‘record’ order books
Wickes has revealed that like-for-like sales for the first 20 weeks of the year were down 0.6% against the prior year, with year-to-date trading in line with expectations against “strong” prior year comparatives. Core like-for-like sales were down by 7.2%, though delivered DIFM sales were up by 30.9% over the…
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23 May
Kingfisher sales drop despite supply pressures easing
Kingfisher has announced its like-for-like sales dropped 5.4% to £3.2bn in the three months ended 30 April 2022 (Q1), although this is up 16.2% from pre-pandemic levels as inflationary and supply chain pressures have eased. In the UK and Ireland, total sales fell 14.1% in Q1, but increased 16.7% on…
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17 May
Victorian Plumbing H1 profits fall to £2.7m
Victorian Plumbing Group has revealed its operating profit for the first half of the year has fallen 80% YOY to £2.7m. The online bathroom retailer also revealed revenues for the period were down 5% year-on-year to £133.9m (H1 2021: £140.7m), lapping a “tough comparable period” resulting from market outperformance during…
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16 May
Screwfix to open 80 new stores
Kingfisher-owned Screwix is set to open 80 new stores by the start of next year, creating around 800 new retail jobs. Boosted by the home-improvement surge during the pandemic lockdowns, the retailer revealed it has seen sustained demand from tradespeople and is set to expand its presence in the UK…
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13 May
Dobbies granted planning permission for new store at Reading
Dobbies, the UK’s leading garden centre retailer, has today (Friday 13 May) announced it has been granted planning permission to build a new 60,000 sq ft store in Reading. The retailer currently has a store at Hyde End Road, Shinfield, and the new store will be built on the land…
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10 May
Ikea stores to receive €3bn investment by end of next year
Ingka Group is set to accelerate its expansion by investing more than €3bn (£2.57bn) in new and existing Ikea stores by the end of next year to help make Ikea more accessible for customers. It said the investment reflects the ongoing retail transformation and the company’s “unchanged determination to get…
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Apr- 2022 -22 April
B&M CEO to step down after 17 years
B&M has announced that Simon Arora, the chief executive officer (CEO) and director of the company, will retire from his role after over 17 years leading the business. Arora will exit in 12 months’ time, and B&M said that over the coming year, he will remain “fully committed” to the…
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14 April
Dunelm Q3 sales surge 69% despite ‘significant’ headwinds
Dunelm Group plc has reported its total sales surged 69% to £399m for the 13-week period ended 26 March 2022 (Q3) compared to £236.6m in FY21 with growth across all channels. The group said its growth was achieved despite “significant” raw materials and freight cost increases, and ongoing supply chain…
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4 April
Dunelm opens new format store at The Springs Leeds
Dunelm has announced it is set to open a new 18,362 square feet sales store with mezzanine in Leeds after it confirmed a further agreement with The Springs out of town retail and leisure shopping centre. This will be Dunelm’s first new smaller format store in the country and its…
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