Screwfix proprietor aims more growth

Kingfisher eyes 200 more Screwfix retail stores

15 September 2015

Coming from the segment Business

Picture copyright
PA

. DO-IT-YOURSELF retail store Kingfisher, which owns B&Q and also Screwfix, says that could possibly open yet another 200 Screwfix retail stores in the UK.Kingfisher currently possesses 412 Screwfix UK stores, which provide devices, plumbing repair as well as electric equipment.As portion of previously introduced restructuring plans, the provider stated this performed keep track of to close around 60 B&Q shops by the conclusion of its 2016-17 financial year.Statutory pre-tax revenues dropped down 1.8 % to ₤ 386m in the part year to 1 August.Total purchases dropped through 4.8 % to ₤ 5.49 bn.

Kingfisher portions fell around 2 % in very early exchanging.”I delight in that our team have supplied a solid initial part of the year,” claimed ceo Veronique Laury. “There continues to be a whole lot to be carried out, having said that.”Previously this year Kingfisher announced a change in tactic that included downsizing its own B&Q retail stores while opening brand new Screwfix shops. Other programs feature cutting back on several of the 393,000 items marketed across the company. Merely 7,000 products – totaling up to 7 % of purchases – are actually offered in a minimum of 2 of Kingfisher’s operating providers.’Well received’The beefed-up Screwfix “remains to provide strong expansion” in the UK, Kingfisher said.In the very first one-half like-for-like sales at the chain increased 16.5 % to ₤ 494m. This said 60 Screwfix shops would level by the conclusion of 2015-16. Sales were actually driven by tough growth coming from exchange work desks for plumbing professionals and electricians, digital and also mobile expansion, new and extensive assortments, and also brand new shops, this said.It included that a test of Screwfix in Germany “has actually been effectively received”, along with indicators of replay custom waiting and also online.Like-for-like sales at B&Q increased 0.7 %. Most of the 30 B&Q closings thought about this year will definitely join the second fifty percent, the agency pointed out. Over 2 years, the restructuring is expected to cost it about ₤ 350m. The firm likewise operates the Castorama and also Brico Depot establishments in France and other nations. That revealed 2 retail store closures in France, as well as one in Russia.

This admittance gone through the Full-Text RSS professional – if this is your web content as well as you know this on somebody else’s site, kindly read the Frequently Asked Question at fivefilters.org/content-only/faq.php#publishers.

Read More

The post Screwfix proprietor aims more growth appeared first on FuelHouseMedia.com.