RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Subscribe
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
thumb
Written by Karin Bosteels
In this article
Share article
  • facebook
  • instagram
  • twitter
  • linkedin
  • email

Kingfisher closes 34 outlets, seeks new CEO

icon
DIY/Garden21 March, 2019

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.

 

9 Castoramas, 2 Brico Dépôts closed

Kingfisher has had another difficult year: while the company ended financial year 2018-2019 with a stable turnover of 11.7 billion pounds (13.6 billion euros), its net profits were almost halved, falling to 218 million pounds (250 million euros).

 

These disappointing results are mostly due to the company’s French branch, which includes big names such as Castorama and Brico Dépôt. They have 224 stores in France, employing 18,000 people, but the French DIY market has been shrinking for years and Castorama has been hit particularly hard. To help turn the tide, the group will be closing nine Castoramas and two Brico Dépôts over the next two years. The 789 employees of those stores will likely be moved to other outlets.

 

Exit Véronique Laury

These closings are part of a bigger plan: at the European level, fifteen stores for the general public will be closed. Another nineteen outlets of German sister chain Screwfix, which is aimed at professionals, will also be terminated. And near the end of last year, the group also mentioned they will be moving out of Portugal, Russia and Spain. 

 

These difficult times at Kingfisher have also led to a change in leadership: CEO Véronique Laury will be stepping down. She became CEO in late 2014 and rolled out a major transformation plan in 2016, which emphasised more efficient logistics and a more uniform range along with lower prices, but that plan has yet to yield any real results. Laury will stay on board for as long as the search for a new CEO continues: “I will continue to give 100 per cent until the day I depart“, she stated in a press release.

Stay up-to-date

Receive our free newsletters and do not miss out on the latest retail news.

Subscribe
logo

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.   9 Castoramas, 2 Brico Dépôts closed Kingfisher has had another difficult year: while the company ended financial year 2018-2019 with a stable turnover of 11.7 billion pounds (13.6 billion euros), its net profits were almost halved, falling to 218 million pounds (250 million euros).   These disappointing results are mostly due to the company’s French branch, which includes big names such as Castorama and Brico...

More on DIY/Garden
See more
  • icon
    DIY/Garden23 March, 2023
    Kingfisher and Mr. Bricolage form purchase alliance

    Surprising news from DIY land: Kingfisher is forming a purchase alliance with Mr. Bricolage. Kingfisher, which is seven times bigger than its French competitor, wants to be stronger towards suppliers.

  • icon
    DIY/Garden7 February, 2023
    Casino wants to acquire Jardiland and Boulangerie Louise

    French retail group Casino want to acquire Teract, a group owning several gardening formats and organic shops such as Jardiland and Boulangerie Louise.

  • icon
    DIY/Garden8 September, 2022
    Bathroom specialist X2O expands to Germany

    X2O, the ambitious bathroom chain with 28 stores in Belgium and 17 in the Netherlands, will open its first showroom in Germany on 10 September. The retailer sees opportunities for its 'buy it yourself' concept in the neighbouring country.

Events
  • 15
    Jun
    Human Resources & People Congress
  • 29
    Jun
    Food Congress
Most read
  • icon
    Leisure16 May, 2023
    Decathlon launches subscription service in Belgium
  • icon
    General15 May, 2023
    Action launches Belgian webshop
  • icon
    Food30 May, 2023
    1,000 jobs at risk at Carrefour France?
  • icon
    Fashion23 May, 2023
    Zara goes secondhand, Massimo Dutti goes US
Follow RetailDetail
  • socialFacebook
  • socialTwitter
  • socialInstagram
  • sociallinkedIn
footer-logo
RetailDetail, the leading b2b-retailcommunity in the Benelux, keeps retail professionals up-to-date by means of online & offline publications, retail events, inspiring retail hunts and the unique co-creation platform retailhub, where retailers and their suppliers can experience the future of shopping.
RetailDetail Mailing Address:
Kolveniersstraat 7, bus 26 
2000 Antwerp
Visiting address:
Stadsfeestzaal – Meir 78 
2000 Antwerp
How to reach us:
Directions
© 2023 RetailDetail
general conditions | privacy policy
+32 3 500 89 59 info@retaildetail.be
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies.
Accept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT