Screwfix is a fast-growing DIY retailer that targets trade professionals and serious DIYers with a highly regarded multichannel operation.
Originally founded as a mail order operation in the 1970s, the business now trades from around 800 stores across the UK and Ireland, and delivers to more than 20 countries from its European website. Some stores are sub-branded Electrofix and Plumbfix to target electricians and plumbers.
Its current focus is on further strengthening its multichannel operation, mobile, convenience and continually making things easier for the customer.
Screwfix is part of Kingfisher, one of world’s leading home improvement retailers. It operates approaching 1,500 DIY stores across Europe, the main fascia being B&Q.
While a fledgling Screwfix store network in Germany has recently been shuttered, expansion into core Kingfisher markets is still on the cards going forward. Screwfix launched online in France in 2021 and is now eyeing up store openings in this market, while Poland is also under consideration for potential market entry.
Sales at Screwfix have grown strongly in recent years due to the ongoing expansion of the store network and a speedy click-and-collect service. Total Screwfix sales increased by 14.3% to £2,327m in the year to end-January 2022 (FY2021), with like-for-likes rising 10.9%. While ecommerce sales dipped marginally against exceptionally strong comparatives, ecommerce sales were 161% ahead on a two-year basis and accounted for 67% of total sales in FY2021.
With Kingfisher profits under serious pressure for several years and group sales also slipping in FY2019, CEO Thierry Garnier has embarked on a new strategy in a bid to turn things around at group level.
His Powered by Kingfisher plan consists of eight strategic pillars including initial priorities to ‘focus and fix’ challenges such as managing the impact of Covid, alongside more long-term aims such as building a mobile-first, service-orientated customer experience, testing new store concepts and increasing its own-brand offering.
Garnier has said the group is “ahead of schedule” with the new strategy after delivering record sales and profits in FY2021.