B&Q owner Kingfisher profit nosedives 30 per cent amid economic gloom KINGFISHER B&Q owner Kingfisher posted slumped profit in half-year results, with bosses citing an “exceptionally strong” comparable period last year. Operating profit was down 29.1 per cent, the DIY retailer highlighted, in results for the six months ended 31 July. Depleted sales came against a “backdrop of exceptionally strong” trading in the first-half of 2021, Thierry [...]
B&Q owner Kingfisher downgraded to ‘sell’ by UBS Kingfisher B&Q owner Kingfisher has been downgraded to ‘sell’ by UBS after the bank predicted the international home-improvement company will be hit by a slump in consumer spending and lose market share in the UK. The Swiss lender said that spending was slowing compared with the high demand the sector experienced during the pandemic. The bank [...]
High street names including Tesco and Greggs call on Tory leadership candidates to slash ‘shop tax’ HIGH STREET A coalition of retailers including Morrisons, Greggs and Tesco, have called on the Conservative party leader candidates to slash business rates. The Retail Jobs Alliance has called on both Rishi Sunak and Liz Truss to pledge to cut business rates, which it said were “killing our high streets”. The group, consisting of Co-op, Greggs, Kingfisher, [...]
B&Q owner Kingfisher builds from pandemic success but struggles to keep up with 2021 boom May 23, 2022 B&Q and Screwfix owner Kingfisher reported strong post pandemic growth in the first quarter, with three year like for like sales up 16.2 per cent.
Nailed on: Screwfix to open 80 stores in expansion May 16, 2022 Home improvement business Screwfix is to create 800 retail jobs by January as part of plans to open 80 new shops across the UK and Ireland. The retailer’s sales were boosted during the pandemic as locked-down Britons hired tradespeople to spruce up their properties and gardens. Screwfix and B&Q owner Kingfisher enjoyed profits of more [...]
Lockdown DIYers push B&Q owner Kingfisher past £1bn profit March 22, 2022 Kingfisher’s sales shot up last year as the B&Q owner became the third UK retailer to exceed £1bn profit. The home improvement behemoth joined retail titans Tesco and Marks & Spencer when it revealed its profits had reached record levels on Tuesday. Lockdown DIYers sent sales past £13bn for the year to 31 January, thanks [...]
Lockdown momentum: B&Q owner Kingfisher sales hit $7bn in six months September 21, 2021 It appears home DIY has kept up its momentum post-lockdown, as B&Q owner Kingfisher’s sales have grown by more than £1bn in the past six months in comparison with last year. Kingfisher, which also owns Screwfix, performed well in 2020 despite the impacts of the pandemic, due to homebound consumers getting stuck into home improvements. [...]
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 [...]