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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Aug- 2024 -12 August
The Floor Room falls into administration, 201 jobs lost
The Floor Room, a sister company of Carpetright, has fallen into administration, causing a total of 201 redundancies across its operations. Administrators at PwC were brought in last Friday (9 August) and closed the retailer’s 34 John Lewis concessions, one stand-alone store in London, and its online operation “with immediate…
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9 August
CMO sales fall by 17% in H1 amid poor weather
CMO has seen H1 sales fall by 17% to £30.3m, down from £36.9m the prior year, after first quarter sales were hit by poor weather during the period.Over the half-year period, Building sales fell by 13%, while Plumbing was down by 12.4%. Its Tiles business was the most impacted, however,…
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1 August
B&Q partners with Deliveroo for DIY products delivery
Home and garden retailer B&Q has partnered with Deliveroo for the on-demand delivery of over 600 DIY products from B&Q Local stores. With products spanning interior and outdoor paint, decorating, painting tools, plumbing, electricals, bathroom essentials, as well as tools and hardware, customers can now easily access the materials they…
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Jul- 2024 -31 July
Wickes HY LFL revenues fall 3.9% to £799.9m
Wickes has revealed that its revenue fell 3.9% like-for-like down to £799.9m for the six months ended 29 June 2024, despite a strong performance from its retail division. It comes as the company saw its design and installation revenue fall 18.3% like-for-like down to £166.7m. However, the company’s retail revenue…
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26 July
Wayfair UK profits dip in FY23 despite cutting workforce by third
The UK arm of Wayfair has seen profits dip in its full-year results, despite cost-cutting plans that included reducing its workforce, newly filed documents have shown.In the year ended 31 December 2023, profit-before-tax fell by 3% to £2.64m, down from £2.73m the prior year. In addition, sales fell by 17%…
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25 July
Howdens maintains full-year outlook as H1 sales and profits rise
Howdens has welcomed good revenue growth in the first half of the year despite a “challenging” marketplace, as sales rose by 4.3% to £966.3m, with the group maintaining its full-year outlook. Profit before tax was in line with last year at £112.3m, up from £111.9m, following a £16m investment in the…
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24 July
Tapi confirms Carpetright store closure locations
The full list of 218 Carpetright stores set to close following the company’s acquisition by Tapi has been confirmed. Tapi has acquired the company’s IP as well as two warehouses and 54 of its stores saving 308 jobs. However, the details of the deal mean that 1,018 jobs across the…
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23 July
Tapi rescues Carpetright brand as 1,500 jobs lost
Rival brand Tapi has acquired the Carpetright brand and 54 of its stores out of administration but more than 1,500 jobs are set to be axed, it has been revealed. Whilst the deal has saved over 300 jobs, administrators from PwC said it was with “deep regret” that 1,018 employees were…
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22 July
Homebase owner considers sale amid interest from The Range
Homebase owner Hilco Capital is reportedly considering a sale after it was approached from The Range for the DIY retailer, according to reports from Sky News. A formal sales process is set to commence in the coming days with other potential bidders involved. Sources suggested that the interest from The…
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19 July
Carpetright rival close to rescue deal
Carpetright competitor, Tapi, is reportedly close to striking a deal to acquire the retailer out of administration, according to The Times. This comes after Carpetright placed its administrators at PwC on standby last Friday (12 July), as it sought “a period of protection” to secure an additional investment. While the…
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