Analysis: Is it too late for new boss Garnier to rebuild Kingfisher?

Thierry Garnier Hi Res

Kingfisher’s top and bottom lines have been trapped in a downward spiral since kicking off its One Kingfisher transformation plan three years ago.

The DIY giant’s wide-ranging strategy was initiated by outgoing boss Veronique Laury in 2016 with a focus on three main pillars: unifying product ranges across its businesses – including B&Q, Screwfix, Castorama and Brico Depot – driving its digital capabilities and bringing in a unified IT platform to create operational efficiencies. Laury’s bold aim was to deliver £500m of incremental profit by 2021/22. 

Earlier this year, that profit target was scrapped – and now the One Kingfisher plan itself could also be ripped up by incoming chief executive and former Carrefour Asia boss, Thierry Garnier.

After Kingfisher suffered a 12.5% decline in statutory pre-tax profit to £245m in the six months to July 31, under-pressure chair Andy Cosslett opened the door for the first time to the prospect of a strategic review, admitting that Garnier would have the “opportunity to review everything that’s going on with the business”.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.