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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Nov- 2020 -11 November
Homebase hunts for new owners to fund next growth stage
DIY retailer Homebase has reportedly started a search for a new owner as it looks for funding for its next stage of growth. According to Retail Week, Homebase chief executive Damian McGloughlin said the company is hopeful of a deal being completed by April of next year. McGloughlin reportedly added…
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Oct- 2020 -1 October
Kingfisher offloads Russian chain in £73m deal
B&Q and Screwfix owner Kingfisher has announced it has offloaded Castorama Russia to Russian home improvement firm Maxidom in a £73m deal. Kingfisher, which has approximately 1,350 stores across eight European countries, said that the deal was closed on 30 September with 80% paid at the closing of the transaction.…
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Sep- 2020 -29 September
B&M raises guidance following ‘strong’ H1
B&M has welcomed “strong” revenue growth in its first-half of trading, reporting group revenue growth of 25.3% in the period ended 26 September 2020. In its latest first-half trading update, the group said B&M UK stores generated revenue growth of 29.5%, including like-for-like growth of 23%. Trading momentum at B&M…
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22 September
Kingfisher sales boosted by DIY boom
Kingfisher has welcomed a “resilient” performance in the first-half of the year, with sales down by 1.1% to £5.9bn. The group said this reflected the adverse impact of Covid-19 in Q1, which was later partially offset by “strong recovery” in the second quarter. Pre-tax profit was up 23.1% to £415m,…
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Aug- 2020 -28 August
Screwfix to open 40 new stores, 400 jobs created
Screwfix is set to open 40 stores this year, in a move that will create around 400 new jobs in local communities. According to its parent company, Kingfisher, the new openings “demonstrate continued growth of the business and a growing demand for convenience, despite the challenges of Covid-19”. Some 30…
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Jul- 2020 -29 July
Travis Perkins reports 20% HY sales decline
DIY retailer Travis Perkins has revealed that like-for-like half-year sales declined by 20% across the group due to the impact of the coronavirus pandemic. Overall, Travis Perkins reported group revenue for the first six months of 2020 was £2.78bn, down from £3.48bn in 2019, attributed to the “significant impact” of…
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22 July
Kingfisher sales boosted by e-commerce
Kingfisher has announced that like-for-like sales soared by 21.6% in the quarter ended 18 July, as it continued to experience “strong demand” across its markets. The B&Q and Screwfix owner said these results reflected “strong” e-commerce growth in the period, as well as a boost from the phased reopening of…
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13 July
Halfords plans to close 60 stores despite resilient sales
Halfords is reportedly planning on closing 60 stores as it looks to speed up its store closure scheme despite seeing “better than expected” sales during the lockdown period. According to The Telegraph, Halfords has decided to up its plans to close 6 stores in the year to 60 with the…
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1 July
Kingfisher appoints ex-Travis Perkins CFO as non-executive director
Kingfisher has announced the appointment of former Travis Perkins CFO, Tony Buffin, as a non-executive director with effect from 1 December 2020. Buffin joined Holland and Barrett as CEO last year, prior to this, he held the position as chief operating officer and chief financial officer at Travis Perkins. He…
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Jun- 2020 -1 June
Topps Tiles announces £18.1m sale of HQ and warehouse
Topps Tile has agreed a sale and leaseback of its head office and central warehouse building to UK Warehouse Properties for £18.1m amid the Covid-19 pandemic. The retailer revealed the proceeds from the sale of the properties situated in Leicester and will “further strengthen” the group’s financial position as it…
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