Kingfisher is the largest home and DIY retail company in the UK. Its brands include B&Q and Screwfix, as well as French retailers Castorama and Brico Depot. It has over 1,300 stores across 10 countries in Europe. The company was founded in 1982 as Pasternoster Stores, and bought out British variety retailer Woolworths, which already owned B&Q. It was renamed Kingfisher in 1989. In 1999, Kingfisher attempted to takeover Asda, but was beaten by US grocery retailer Walmart. Woolworths was separated from the group in 2001 and subsequently closed in 2008. 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. However, with profits continuing to slide, the appointment of new chief executive Thierry Garnier has meant this plan may fall by the wayside, with rumours that the company may be split up.
B&Q owner Kingfisher is set to divert all of its remaining stock of personal protective equipment (PPE) to frontline healthcare workers across Europe.
Kingfisher sales in the UK inched up last year driven by the strong performance of its Screwfix brand, as the retailer suffered from enforced store closures in France and Spain.
The likely collapse into administration of Laura Ashley is not solely the result of coronavirus. The pandemic was sadly the last nail in the coffin of a retailer that has struggled to appeal to shoppers for some time.
DIY giant Kingfisher has warned of ”significant uncertainty on sales and demand” after closing its 221 stores in France.
DIY giant Kingfisher has been booted out of the FTSE 100 following its quarterly review.
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