Kingfisher will open 200 Screwfix stores

Kingfisher will open 200 Screwfix stores

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.

From consumer to professional

Kingfisher is forced to make these moves based on changing consumer demands: as the consumer lacks time (or desire) to do something himself, he will ask professionals to do it for him. A quarter of British consumers currently hires professionals to do chores around the hose, compared to only 19 % last year, according to a recent study.

 

The company's quarterly results clearly show this shift in behaviour: Screwfix' turnover grew steadily over the past three months, up 17 %, while DIY chain B&Q only grew 3.4 %. All in all, like-for-like quarterly turnover grew 2 %, a decent performance considering Castorama and Brico Dépôt's performance in France (down 0.3 %).

 

Management reinforced

Véronique Laury, who succeeded Ian Cheshire at the start of the year, also announced she would add some staff to her management. Former Morrisons' HR manager Emily Lawson will join the team next month as its chief people officer. Coming from Ikea, Arja Taaveniku already joined in May, tasked with slimming down the company's product range. The group currently has 393,000 products on sale, but only 7,000 really sell well.

Questions or comments? Please feel free to contact the editors


Kingfisher experiences another turnover drop

17/08/2017

DIY group Kingfisher’s quarterly results were weak once more: the British-French group suffered setbacks in both regions and the restructuring plan is also weighing down its results.

Sizeable profit drop for Geberit

17/08/2017

Swiss sanitation specialist Geberit’s profit dropped about 20 % in the first half of 2017. Turnover also slumped, but only slightly.

Intergamma: departure largest shareholder sparks turmoil

01/08/2017

Irish group CRH, which owns nearly 50 % of DIY Intergamma’s shares, wants to sell those shares, but the other shareholders cannot find an appropriate solution.

Strong Dutch growth for Hornbach

09/06/2017

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.

Cooperative Menouquin joins Hagebau

10/05/2017

Belgian’s largest cooperative in tools, hardware and DIY, Menouquin, will join German Hagebau, a move designed to help Menouquin grow.

Bauhaus opens second Dutch store

05/04/2017

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.

Back to top