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- 2020 -29 May
B&M sales surge amid lockdown
B&M has revealed it enjoyed a “strong” end to its fourth quarter trading, with like-for-like revenues up 6.6% in the quarter ended 28 March. The value retailer said that this result was driven by an “exceptionally” strong March performance in its grocery sector. The group also reported a “strong” revenue…
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12 May
Kingfisher sales drop 25% in Q1 results
B&Q and Screwfix owner B&Q has revealed its first quarter sales fell by 24.8% to £2.2bn as the impact of the coronavirus hit its core markets of UK, Ireland and France. Kingfisher said it saw UK and Ireland sales fall 14.7% to £1.09bn, with B&Q sales plummeting 22.1% to £663m.…
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Apr- 2020 -27 April
Homebase reopens 20 stores
DIY retailer Homebase has revealed it has reopened 20 of its stores across the UK after it was deemed an essential service. In March, Homebase was classified as an essential retailer by the Government, meaning that its stores could continue trading. However, it said that with the safety of its…
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23 April
Gordon Brothers rescues Laura Ashley from administration
Embattled retailer Laura Ashley has been rescued from administration by global investment firm Gordon Brothers for an undisclosed sum. Gordon Brothers revealed it has acquired the global Laura Ashley brand, archives, and related intellectual property from the Laura Ashley group’s administrators PwC. Ramez Toubassy, president of brands for Gordon Brothers…
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Mar- 2020 -25 March
Halfords forecast 25% sales slump
Halfords has warned that sales will “drop sharply” in light of the coronavirus outbreak, with a forecasted sales decline of 25%. After modelling a range of disruption scenarios that assume “significant sales declines” between April and June, it predicts its next full-year results will see a loss of £300m in…
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Feb- 2020 -27 February
Homebase turnaround bears fruit as it returns to profit
DIY retailer Homebase said it has “returned to profit ahead of plan” in its latest trading update, recording profits of £3.2m in 2019, compared with a loss of £114.5m in 2018. As a result, Homebase said the proposed completion of its CVA is likely to conclude 18-months ahead of schedule,…
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12 February
Inter Ikea appoints new CEO
Inter Ikea has announced that Torbjörn Lööf, who has been the company’s CEO for the past seven years, is to step down from his role and will be replaced by Jon Abrahamsson Ring. To ensure a “good handover”, Ikea said Ring, who is a former assistant to Ikea founder Ingvar…
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Jan- 2020 -16 January
Halfords hails ‘strong’ Q3 sales performance
Halfords has reported a “solid” performance in its third quarter of trading, with total group revenue up 4.6%. In the 14 weeks ended 3 January 2020, like-for-like revenue was also up 1.3%. Retail cycling delivered “strong sales growth” in particular, with like-for-like sales increasing 5.9% in the period. Halfords said…
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Dec- 2019 -5 December
Dunelm profits to beat expectations
Dunelm expects its full-year profits to beat original forecasts, the company said in its latest trading update. The furniture and homeware retailer said that gross margins were “stronger than expected” in the financial year to date, and believes that this is a result of “sourcing gains and better sell through”.…
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Nov- 2019 -27 November
Ikea profits slip amid increased focus on online business
DIY retail giant Ikea has reported a 10% decrease in profits for the year to the end of August 2019, amid an increased focus on its online business. The retailer said online sales growth was close to 50% during the period and is now surpassing 10% of total retail sales.…
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