B&Q owner Kingfisher appoints new finance boss October 9, 2019 B&Q owner Kingfisher has appointed a new chief financial officer, it said today. Bernard Bot joins the home improvement group after his most recent role as finance boss of travel technology firm Travelport Worldwide which was New York-listed until June. His appointment comes less than a month after chief executive Thierry Garnier took up his [...]
Like a brick: SIG shares drop as profit warning sends ripples through construction industry October 7, 2019 Building materials firm SIG shares tumbled 15 per cent this morning as it warned profits would be “significantly lower” than last year, amid languishing construction markets in the UK and Germany. SIG’s warning set alarm bells ringing across the industry as it said a “deterioration in trading conditions” had worsened in recent weeks. Read more: [...]
Profits slide and sales wane at B&Q owner Kingfisher September 18, 2019 Kingfisher reported falling profits and sales this morning as its struggling B&Q chain held back the firm’s turnaround efforts. Pre-tax profits at the group hit £245m in the first half of 2019, falling from £280m in the same period a year ago. Read more: Retail footfall drops again Blaming “disappointing” performances in its core UK [...]
Marks and Spencer set to be ejected from FTSE 100 for first time in 35 years September 3, 2019 Marks & Spencer is set to lose its place in the FTSE 100 list of the UK’s biggest companies tomorrow after 35 years, ending its long-held membership as one of 28 original firms. Read more: Marks and Spencer to shut seven stores for final time in restructuring The troubled retailer will drop down to the [...]
Shareholders rebel at Homeserve over ex-director payouts July 19, 2019 Shareholders dealt home repairs company Homeserve a bloody nose today as 30 per cent voted against the directors’ pay report. Read more: Homeserve maintains strong outlook as investors toast success across the pond Advisory firm Institutional Shareholder Services (ISS) had recommended Homeserve shareholders vote against the remuneration report – which lays out directors’ pay – [...]
B&Q owner Kingfisher suffers shareholder rebellion over executive pay July 9, 2019 B&Q owner Kingfisher today suffered a shareholder rebellion over executive pay as investors opposed the chief executive and finance chief’s combined pay packet of more than £3m. Almost a quarter of shareholder’s that took part in the vote opposed the remuneration report, which will see chief executive Veronique Laury, who is set to step down [...]
B&Q owner Kingfisher appoints Carrefour exec as new boss June 27, 2019 B&Q owner Kingfisher today said it has appointed Thierry Garnier as its new chief executive as the home improvement chain looks to turn around its ailing fortunes. Garnier, who has held senior roles at French retail giant Carrefour over the last 20 years, will join the DIY group in the autumn. Read more: B&Q owner [...]
B&Q owner Kingfisher sales tick upwards ahead of CEO’s departure May 15, 2019 B&Q owner Kingfisher saw sales edge higher in its latest quarter thanks to warmer weather and a weaker corresponding period last year. Read more: B&Q owner Kingfisher plans foreign market exit as French sales drag UK and Ireland sales rose 5.4 per cent in the three months to the end of April compared to the same [...]
Kingfisher makeover fails to impress March 29, 2019 The Kingfisher makeover has yet to win over investors, with results from the B&Q owner showing why. There are signs of progress within the Kingfisher (LSE:KGF) transformation plan, but the retail environment remains fiercely competitive and will continue to move on as the company tries to put its own house in order. Unfortunately, any benefits [...]
B&Q owner Kingfisher’s boss to depart as profits slump and stores close March 20, 2019 Kingfisher announced the surprise departure of its chief executive this morning, as a swathe of store closures and a double-digit drop in profits puts mounting pressure on the embattled DIY group. Read more: B&Q owner Kingfisher plans foreign market exit as French sales drag Veronique Laury, who is currently one of six female chief executives in the [...]