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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Mar- 2022 -30 March
IKEA to close Tottenham store, putting 450 roles at risk
Ikea has announced the proposed closure of its Tottenham store in Edmonton, North London, placing the jobs of 450 co-workers at risk. The announcement forms part of the business’ £1bn transformation plan to further invest in London over the next three years to “better meet the needs” of its customers.…
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25 March
Wickes profit soars 71% in FY21 as it ‘outperforms’ market
Wickes has announced that its profit-before-tax soared by 71.7% to £85m in FY21, up from £49.5m the year before, as it hailed a “year of excellent growth”. In the period ended 1 January 2022, the group also welcomed a revenue rise of 14% to £1.53bn, up from £1.35bn in 2020,…
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22 March
ScS posts a £3.6m loss amid supply chain disruptions
Home furnishings retailer ScS has reported a loss before tax of £3.6m during the 26 weeks ended 29 January 2022, as supply chain disruption impacted sales and revenues. ScS reported a 16% drop in revenues to £145.9m compared with FY21 and a 4% drop in comparison with H1 2020. Despite…
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22 March
Kingfisher hails ‘record’ year as profits surge 20.9%
Kingfisher has reported “record” revenue and profits for the year ending 31 January 2022 as adjusted pre-tax profits surged 20.9% year-on-year from £786m to £949m, reflecting higher retail profit and lower net finance costs. Total sales are up 9.9% to £13.18bn compared to £12.34m last year, and operating profit increased…
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21 March
Decathalon owners face backlash over Russian expansion plans
The French owners of sporting goods store Decathlon could be set to face public backlash after being accused of profiting from Russia’s invasion of Ukraine amid reports it has set out plans to increase its presence in the country. According to The Telegraph, its owners the Mulliez family plan to…
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4 March
IKEA pauses operations in Russia and Belarus
Ikea has announced its company groups, Inter Ikea Group and Ingka Group, have decided to temporarily pause Ikea operations in Russia. This means that Inter Ikea Group will pause all export and import in and out of Russia and Belarus, and Ikea Industry production operations will be paused in Russia,…
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1 March
Travis Perkins profits spike 175%
Travis Perkins plc has revealed its adjusted operating profits surged 175.8% for the year ending 31 December 2021 (FY21), rising year-on-year from £128m to £353m, and up 19% compared to pre-Covid levels. The group said the performance reflects the work undertaken to enhance its customer proposition through investment in network…
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Feb- 2022 -23 February
Eve Sleep agrees retail partnership with DFS
Eve Sleep has announced a new retail partnership with DFS, that will initially see its products sold on the dfs.co.uk website. The firms also revealed there are also plans to extend the partnership to the DFS showroom estate later in the year. DFS will stock a range of eve mattresses,…
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9 February
Dunelm hails ‘record’ trading as sales surge 10%
Dunelm has announced its sales rose by 10.6% year-on-year from £719.4m to £795.6m in the 26 weeks ending 25 December 2021 (H1 FY22), up 36% from pre-Covid levels. The group also reported “record” pre-tax profits of £140.8m, rising 25.3% year-on-year from £112.4m and up 68% from £83.6m in H1 FY20.…
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3 February
Ikea to recruit 150 tech roles with new recruitment campaign
Ikea has announced a new data and technology recruitment campaign to recruit over 150 technology and innovation roles across Europe this year. As part of the ‘Taste the Future’ campaign, the company will use a 3D printer during the interview process so candidates can design experimental plant-based meatballs, in a…
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