DIY
German DIY chain Hornbach’s turnover and profit grew a lot in the past fiscal year, which ended 28 February 2017. Particularly its Dutch division performed very well.
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Belgian’s largest cooperative in tools, hardware and DIY, Menouquin, will join German Hagebau, a move designed to help Menouquin grow.
On 14 April, DIY store chain Bauhaus will open its second Dutch store in Twente. Its 15,000 sqm store will be located in the Westermaat business park in Hengelo.
British DIY giant Kingfisher will have mixed feelings about its second quarter: its British subsidiaries performed very well, while the French chains' turnover dropped.
In its past fiscal year, German DIY chain Hornbach has raised its consolidated turnover by 5 %, partially thanks to a good performance in the Netherlands: its Dutch turnover growth even reached a double-digit growth.
DIY group Maxeda cannot seem to get rid of Praxis, Formido and Brico. Now, several funds who are known for their harsh reorganizations are intervening.
Only a few days after the announcement CEO Roel van Neerbos would leave the Dutch Maxeda DIY Group's new CEO, it is revealed that group director Roy van Keulen will leave the group as well.
Dutch DIY chain Maxeda, which owns chains like Praxis, Formido, Brico and Plan-It, has confirmed the appointment of Frenchman Guy Colleau as its new CEO. He will start on 1 May.
Home Depot, America's largest DIY chain, has just published quarterly results that were better than expected, thanks to the recovering housing market and the unusual warm weather for the time of the year.
British DIY group Kingfisher has major plans to boost its profit over the next 5 years. It will invest 800 million pounds (1.05 billion euro) to bring all of its brands together under one roof.
German DIY chain Hornbach has adjusted its full fiscal year profit forecast after its operating income was hammered in the third quarter, partially because of higher costs.
Kingfisher's third quarter of 2015 was not as well as it had hoped, with a 6 % profit drop. The DIY company, which owns chains like B&Q, Screwfix, Castorama and Brico Dépôt, did perform well in Great Britain however.
Several months after its engagement to Kingfisher was annulled, another interested party has wooed French DIY chain Mr. Bricolage. This time, the admirer is the much smaller Bricorama, but Mr. Bricolage is not interested.
While Kingfisher is in the process of closing down 15 % of its B&Q stores, it has announced it will open 200 Screwfix stores. The transition fits the current trend of stepping away from "do it yourself" and moving towards "get it done", as Screwfix mostly focuses on professionals.
Procter & Gamble has appointed David Taylor as its new CEO. A.G. Lafley, the previous CEO, guided Taylor into his new position and will now become chairman of the board.
DIY group Maxeda, which owns chains like Brico and Praxis, has sold the majority of its shares to the French investor Ardian and the American Goldentree Asset Management group.
