DIY
British DIY retailer Kingfisher has had a great quarter. The enormous growth in France is particularly noteworthy.
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Kingfisher, the parent company of B&Q, Castorama and Brico Dépôt, among others, expects it will be difficult to match last year. As a result of the lockdowns, there was a real run on do-it-yourself products and garden items.
British DIY chain Kingfisher will be closing 34 outlets over the next two years, including eleven in France. The group is also looking for a new CEO to succeed Véronique Laury, who will be stepping down.
Furniture
Kingfisher, Europe's second largest group of DIY chains, is leaving Portugal, Russia and Spain. The group wants to focus on its primary markets, including France, where their Castorama chain is struggling.
British DIY chain Kingfisher’s net profit dropped more than 20 % in the past fiscal year because of a restructuring plan in its native land and weak French sales.
British DIY giant Kingfisher will have mixed feelings about its second quarter: its British subsidiaries performed very well, while the French chains' turnover dropped.
