B&Q owner Kingfisher signs £550m credit deal linked to sustainable targets June 2, 2021 Kingfisher has signed a £550m three-year credit deal that will see it benefit from a lower interest rate on the loan if it delivers specific targets to help tackle climate change. Kingfisher, which also owns Screwfix, has updated its climate change targets to reduce emissions by 2026 in a way that will not contribute to [...]
Lockdown DIY: B&Q owner Kingfisher nails sturdy sales May 20, 2021 Kingfisher, which owns B&Q and Screwfix, has reported sturdy sales of £3.4bn this morning as lockdown measures pushed people to get creative with DIY and home renovations. Total sales soared 61.9 per cent in the group’s first-quarter results to 30 April today, which reflected the DIY fever that caught many during the last lockdown. Shares [...]
B&Q owner Kingfisher toasts click & collect success as sales surge March 22, 2021 Kingfisher, the owner of B&Q and Screwfix, this morning announced that sales and profit surged last year, boosted by its click and collect offer, as consumers began DIY projects during lockdown. Sales were up 7.2 per cent to £12.3bn and profit after tax was £592m, up from £8m in the previous year. Adjusted post-tax profit [...]
Screwfix to open 50 new stores and create 600 jobs this year March 15, 2021 Screwfix is planning to open an extra 50 stores this year, creating around 600 new jobs, in response to the boom in demand for home improvements during the pandemic. The retailer, which is owned by B&Q parent company Kingfisher, will open 40 new branches in the UK, creating 500 jobs, and a further 10 in [...]
Kingfisher shares jump on plans to launch B&Q stores in Saudi Arabia March 9, 2021 Shares in Kingfisher, the owner of B&Q, jumped this morning after it announced plans to expand the DIY chain into the Middle East. Kingfisher said this morning that it has signed a franchise agreement with the Al-Futtaim Group, with the first Middle East stores to launch in Saudi Arabia. It marks a progression in the [...]
DIY firm Kingfisher sales jump on online boom January 12, 2021 Home improvement firm Kingfisher said that a boom in online sales had seen fourth quarter sales rise 16.9 per cent. In a trading update, the London-listed firm said that it was comfortable with the top end of current estimates for profit of £667m-£742m this year. It added that e-commerce sales had increased by 150 per [...]
B&Q owner Kingfisher acquires trade services platform to roll out to UK stores November 25, 2020 B&Q owner Kingfisher has acquired home improvement services firm Needhelp for €10m, with plans to roll the platform out in the UK. The company said today that it has taken an 80 per cent stake in the company as it seeks to ramp up its mobile and digital services. Needhelp founder Guillaume de Kergariou will [...]
B&Q owner Kingfisher expects £175m profit boost due to Covid-19 support and cost savings November 19, 2020 B&Q owner Kingfisher expects to report an extra £175m profit for the year due to temporary cost savings, including government Covid-19 support measures. The London-listed DIY firm said today that sales soared 17.6 per cent to £3.5bn in the third quarter due to a surge in people beginning home improvement projects during the pandemic. Kingfisher [...]
B&Q reopens all 288 stores after social distancing measures implemented April 30, 2020 B&Q has reopened all of its UK stores from today after implementing new social distancing measures. The DIY retailer said all of its 288 stores were now open following temporary closures when the UK coronavirus lockdown was announced last month. Hardware shops were included on the government’s list of essential retailers that are allowed to [...]
Coronavirus: B&Q owner Kingfisher to negotiate rent payment terms March 18, 2020 B&Q owner Kingfisher is preparing to negotiate its rent payment system with landlords as it tries to save cash amid the coronavirus crisis. Kingfisher, which also owns Screwfix Direct, will ask to pay rents across its 950 UK stores on a monthly basis, rather than each quarter, Sky News reported. Retailers are increasingly facing cash [...]