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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Jun- 2018 -8 June
B&Q announces sales overhaul with 700 employees consulted over new roles
B&Q has announced that it is to make changes to its sales processes with 700 employees consulted over the changes. The DIY retailer announced proposals to simplify the way it sells kitchens and bathrooms so that customers only deal with one member of staff. B&Q has said that as a…
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8 June
Ikea to remove all single-use plastic products by 2020
Swedish furniture retailer Ikea has launched its updated ‘People and Planet Positive’ scheme, as part of new sustainability strategy. The commitments, which will be achieved by 2030, aim to inspire and enable people to live more sustainably, reduce their climate impact, contribute to a world without waste and create a…
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May- 2018 -25 May
Homebase sold for £1 putting 11,000 jobs at risk
Australian retail group Wesfarmers has sold Homebase to HMV owner Hilco Capital for a token £1. Hilco specialises in restructuring and refinancing other companies and will acquire all Homebase assets, including the brand, its store network, freehold property, property leases and inventory for the nominal amount. Homebase was acquired by…
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24 May
B&Q owner Kingfisher reports poor Q1 sales
DIY retailer B&Q has reported a 9% drop in like-for-like sales for the three months to April 30 2018. According to the group the report reflects an ongoing issue of lowered footfall and soft demand patterns. The adverse weather conditions and temporary snow related store closures impacted B&Q’s like-for-like sales…
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22 May
Topps Tiles see profits crack by almost 33%
Topps Tiles has seen a 32.6% drop in pre-tax profits, falling from £9.5m to £6.4m. The firm did see revenue growth in the six months ending on March 31 by 3.7% up to £110.5m from £106.6m. In a recent attempt to pull in more customers the retailer ran several sales…
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16 May
Wickes cuts 100 head office jobs
DIY retailer Wickes is cutting 100 head office jobs due to “mixed” trading conditions and a new structuring plans. The cuts that see a third of jobs at Wickes head office terminated, come at a time when Wickes is seeing a like-for-like sales increase of 3% and an increase in…
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10 May
Homebase receives bid from former Comet owner
Opcapita, the former owner of Comet has put in a bid of an undisclosed amount for Homebase according to Sky News. Homebase owners Wesfarmers are looking to sell the chain following their 2016 takeover and are offering a £100m dowry to any potential buyer. Homebase reported a $97m trading loss…
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Apr- 2018 -26 April
Bunnings reports ‘significant’ decline in sales
Bunning’s retail sales decreased by 13.5% to £211m for the third quarter of the 2018 financial year. The DIY retailer said the severe March weather significantly affected trading, particularly in the seasonal gardening and outdoor living categories. However, Michael Schneider, group managing director, said “satisfactory progress has been made…
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23 April
Wesfarmers entices Homebase bidders with £100m dowry
Potential bidders for Homebase are being enticed by a sizeable dowry as its owners Wesfarmers ask for initial takeover bids to be submitted by the 23 April. The Australian owners of the DIY chain are looking for a fast exit from the UK market and sources close to Wesfarmers say…
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12 April
Carpetright to close nearly a quarter of stores, affecting 300 jobs
Carpetright is preparing to close nearly a quarter of its 300 stores in a restructuring plan as it struggles to avoid administration. Today (12 April) the company released a statement saying it had entered a Company Voluntary Agreement (CVA), which if approved, would lead to the closure of 92 outlets…
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