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.
-
Oct- 2024 -3 October
Topps Tiles sales dip 5.7% in Q4
Topps Tiles has seen a 5.7% decline in group sales to £248m for the 52-week period ended 28 September 2024. Group sales for the year, excluding revenues from the assets acquired from the administrators of CTD1, were broadly “in line” with the year ending September 2022. The tile specialist said…
Read More » -
1 October
Dobbies to close 17 stores as it unveils restructuring plan
Dobbies Garden Centres Limited has launched a restructuring plan that will see the closure of 17 unprofitable stores to address “historically uneconomical rent costs and ensure a return to sustainable profitability”. Dobbies will close 11 main sites, and six little dobbies sites, which will impact 465 colleagues, of which 82…
Read More » -
Sep- 2024 -25 September
DFS swings to £1.7m loss amid Red Sea stock delays
DFS has reported a loss before tax of £1.7m for the year ended 30 June due to “record” low market demand and Red Sea shipping disruption deferring sales and profits to future periods. By June 2024, adjusted profit before tax stood at £10.5m, having fallen £20.1m year-on-year to below DFS’…
Read More » -
17 September
Kingfisher HY profits improve despite weak sales
B&Q owner Kingfisher has revealed that its statutory pre-tax profits rose 2.3% to £324m for the six months ended 31 July 2024, up from £317m in the same period last year. The performance comes despite the fact the company’s sales fell 1.8% to £6.8bn, down from £6.9bn. Like-for-like sales in…
Read More » -
10 September
Wickes HY profit falls to £23.4m
Wickes has revealed that its adjusted profits fell to £23.4m, down from £31.1m, for the 26 weeks ended 29 June 2024. Alongside this, the DIY retailer saw its total revenues fall 3.4% year-on-year from £827.7m down to £799.9m. However, its operational costs were flat year-on-year following planned management action taken…
Read More » -
Aug- 2024 -30 August
Dobbies plans restructuring process
Dobbies, the UK’s biggest garden centre operator, is reportedly planning a financial overhaul which could result in store closures or steep rent cuts, according to Sky News. The group, which is controlled by Ares Management, an American investor, is believed to be working with advisers at FTI on a restructuring…
Read More » -
21 August
Hobbycraft on brink of sale to retail investor
Hobbycraft is reportedly closing in on a sale to a specialist retail investor, Sky News has reported. Modella Capital is said to be in advanced talks to buy the arts and crafts retailer from the private equity firm Bridgepoint. Sources told Sky that a deal could be signed “within days”.…
Read More » -
20 August
Topps Tiles rescues CTD Tiles out of administration
Topps Tiles has acquired the brand and assets of CTD Tiles in a £9m deal after the company fell into administration this week. The deal includes the CTD Tiles brands, 30 stores, selected stock and its intellectual property from CTD Tiles Limited. CTD supplied tiles to the retail, trade and commercial…
Read More » -
19 August
Wilko family under pressure to fill £70m pension deficit
Wilko’s founding family is reportedly under pressure to pay £70m to fill the collapsed retailer’s pension hole, This is Money has reported. According to reports, Amalgamated Holdings Wilkinson Limited (AHWL), Wilko’s ultimate parent whose directors include Lisa Wilkinson, has no plans to pay up. Wilkinson, the granddaughter of Wilko founder…
Read More » -
16 August
Victorian Plumbing to shutter Victoria Plum, 100 jobs at risk
Victorian Plumbing is set to close Victoria Plum, a rival firm it acquired only three months ago, in a move that puts around 100 jobs at risk.The group acquired the competitor in May for £22.5m. It acquired the entire issued share capital of AHK Designs Ltd, trading as Victoria Plum…
Read More »
