B&Q is a DIY and home improvement retailer in the UK, operating as a subsidiary of Kingfisher, which also owns Screwfix. Founded in 1969 by Richard Block and David Quayle, the retailer was bought first by Woolworths in the early 1980s, before the group was sold to Kingfisher. From early 2016, the group has been undergoing a five-year transformation strategy under the One Kingfisher banner, designed to leverage its scale. This is focused on creating a unified and unique offer across the whole business, driving digital capability and optimising operational efficiency. Kingfisher has been investing heavily in digital across the group, improving fulfilment and mobile to drive online growth. The retailer’s greatest growth potential lies in omnichannel and it is fast developing its offer. It is also overhauling its systems in a bid to drive efficiency and make the business more agile. Smaller-format stores have been around since 2017, with an offer tailored to urban markets.
Kingfisher has shaved £10m from the upper end of its profit guidance in the face of rising wages and energy bills.
Retailers are undoubtedly operating in an ongoing challenging environment, with consumers facing the challenges of the increased cost of living against the backdrop of a looming recession.
Retail leaders from some of the biggest names in the business will come together next month to discover the innovators solving the industry’s trickiest challenges.
Home and DIY giant Kingfisher has insisted that its full year guidance remains unchaged despite profits and sales falling in the first half.
Be like B&Q and make sure your retail stores are ticking all the right boxes for the modern shopper, writes Ben Sillitoe
Advertisement
