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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Apr- 2021 -12 April
Homebase announces Next partnership
Homebase has announced a new partnership with Next in which its gardening products will be brought to selection of the retailers stores. The partnership will see six Homebase garden centres open in Shoreham, Ipswich, Warrington, Camberley, Bristol and Sheffield Next stores. Homebase is also set to open more of its…
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8 April
Dunelm to ‘outperform’ expectations thanks to click and collect
Dunelm has said it expects to “outperform” analyst expectations this financial year, as the group prepares to reopen its stores again on 12 April. The statement, which was published in its Q3 trading update, revealed that its FY21 profit-before-tax is estimated to be between £120m-£125m. This is a figure the…
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1 April
Topps Tiles H1 2021 revenues hold steady
Topps Tiles, a tiling retailer, saw its total revenues for the 26 weeks ended 27 March 2021 fall 2.4% year-on-year to £103.6m. However, included in the group’s first half financial results was a 2% retail like-for-like sales growth over the period. This was mainly attributed to the 19.9% year-on-year increase…
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Mar- 2021 -29 March
Victoria Plum sees 46% increase in sales to £103m
Online bathroom retailer Victoria Plum has announced that its sales rose by a record 46% to £103m for the year ended 28 February 2021. In addition, the Doncaster headquartered business added that its EBITDA increased by 115% to £4.5m. Over the same period, the company grew its headcount from 349…
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24 March
Wickes demerger to commence following FCA approval
Travis Perkins has “marked the next milestone” in the demerger of Wickes from the group after submitting a proposal of the move to the FCA for approval. Following approval, Wickes shares are set to be admitted to the premium listing segment of the FCA and admitted to trading on the…
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22 March
Kingfisher full-year profits soar amid DIY boom
Kingfisher has announced that pre-tax profit soared by 44.4% to £786m in the year ended 31 January 2021, following a surge in DIY spending amid the pandemic. Retail profit was up 27.4% in the year, which was largely driven by a strong B&Q performance, while total sales rose by 6.8%.…
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19 March
Halfords acquires Universal Tyre and Autocentres for £15m
Halfords has announced it has reached an agreement to acquire Universal Tyre and Autocentres (Universal) for a consideration of £15m. Universal operates out of 20 sites and 89 commercial vans operating in the South East and on the east coast of the UK with specialism in tyre services and general…
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15 March
Screwfix to open 50 new stores in UK and ROI
Screwfix has announced it plans to open more than 50 stores, creating around 600 new jobs in communities across the UK and the Republic of Ireland (ROI) by the end of January 2022. Of the new stores, 40 will be in the UK, creating up to 500 new jobs, with…
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9 March
Kingfisher to expand B&Q to Saudia Arabia
Kingfisher has announced that it has signed a franchise agreement with the Al-Futtaim Group to expand B&Q in the Middle East. The plan will involve the first B&Q franchised stores opening up in Saudi Arabia towards the end of the year, supported by an e-commerce proposition. The acquisition is part…
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Feb- 2021 -25 February
Ikea UK hit with £33m loss amid pandemic
Ikea UK has announced that total sales fell by £200m to £1.9bn in its full-year ended 31 August 2020, down from sales of £2.12bn reported in FY19. While the furniture giant decreased its costs by 3.4% to help shore up its finances, it still reported an overall loss impact of…
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