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.
DIY giant Kingfisher has posted a year of strong growth as the home improvement trend continued to thrive in lockdown – but how sustainable will the newfound passion for DIY be?
Home and DIY giant Kingfisher has reported soaring profits and sales in the last year, with chief executive Thierry Garnier confident of its “continued outperformance” of the market.
Screwfix has announced plans to open 50 new stores across the UK and Ireland in 2021.
Kingfisher has announced plans to open B&Q franchised stores in the Middle East starting with two in Saudi Arabia.
Retail Week looks at the investments helping retailers to operate faster and slicker, and investigates the different elements comprising digital transformation.
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