All Home & DIY articles – Page 255
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News
Praktiker continues to suffer
Home improvement group Praktiker’s first-quarter losses widened from €20.8m (£18.7m) to €49.2m (£4.4m), and group sales dropped 8 per cent to €795.6m (£713.4m).The retailer said the performance was “materially attributable to its international business” as currency depreciation hit. However, Praktiker expects “adequate, positive EBITA” for the full year.Domestic sales in ...
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News
Ikea hires new chief executive
Ikea has promoted Mikael Ohlsson to chief executive of the furniture and homewares giant. He will replace Anders Dahlvig, who has been at the helm for 10 years.Ohlsson, who has worked at Ikea for 30 years, will take up the position on September 1. At present he is regional manager ...
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NewsReassuring updates propel retail shares again
Once again, the only way was up for store stocks as the general retailers’ rally maintained momentum following a raft of reassuring updates and results.
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NewsCarpetright increases ad spend as it focuses on TV to halt sales slide
Carpetright will up its ad spend 15 per cent and alter its marketing strategy as sales fall in the tough big-ticket furniture sector.
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NewsAllied Carpets chief operating officer Jean Wattel resigns
Allied Carpets chief operating officer Jean Wattel has resigned from the carpet retailer weeks after restructuring specialist Hilco bought the company.
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NewsHilco emerges as owner of Allied Carpets
Turnaround specialist Hilco has emerged as the owner of Allied Carpets.
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NewsHome Retail Group posts 24 per cent fall in preliminary profits
Home Retail Group, owner of the Argos and Homebase chains, has warned of continued tough trading conditions ahead after posting a 24 per cent fall in preliminary profits.
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NewsRetail sales get an unexpected lift in April
Retail sales in April were better than expected according to the CBI, with sales volumes unexpectedly flat after more than a year of decline.
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NewsDunelm enjoys sales lift
Dunelm has reported an improving performance with like-for-like sales up 2.3 per cent in the 17 weeks to April 25.
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NewsCarpetright like-for-likes continue to slump as margins slip
Carpetright’s like-for-like sales have continued to tumble but it has successfully renegotiated its banking terms.
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NewsRetail insolvencies rise 60 per cent
Retail collapses soared in the first quarter as companies fell victim to falling consumer confidence and a deteriorating financing environment.On average, more than seven retailers hit the wall a day in the three months to March. The number of insolvencies jumped 24 per cent on the previous quarter, according to ...
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NewsRetail sales bounce back in March
Retail sales volumes returned to positive territory in March, driven by a strong performance from food and fashion retailers.
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News
Tengelmann to relaunch online store Plus
Grocer Tengelmann plans to relaunch its non-food online store Plus later this year, according to reports. The project will extend the online shop’s product range to around 10,000 items by the end of this year.New product ranges will include electronics, DIY and furniture. The site will also feature innovations such ...
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OpinionCarpetright on solid ground
The latest BRC retail sales figures showed that while some sectors were up after several months of poor trade, the furniture and floor coverings sector worsened. But next week we may well see one retailer faring better than most in its sector – Carpetright.
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OpinionMy word is my bond
Renegotiating deals after signing them is not the way to deal with recession, says Lord Kirkham
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AnalysisSocial Trends: How Britain behaves
Modern Britain is changing, and if retailers are to survive the downturn understanding these evolving social trends could make all the difference.
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News
B&Q awards £9m of shares to staff
B&Q is awarding £9m of shares in parent company Kingfisher to more than 300 store managers in order to maintain high store operating standards.
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NewsLondon like-for-likes climb 5.1 per cent
London retail sales grew 5.1 per cent on a like-for-like basis in March, outperforming the UK as a whole which declined 1.2 per cent.The British Retail Consortium-KPMG figures show like-for-likes grew 5.8 per cent in January to March, while UK like-for-likes dropped 0.7 per cent.The BRC said comparisons were difficult ...
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NewsBRC demands credit insurance redress at Budget
Half of large retailers say the reduction or withdrawal of trade credit insurance has undermined their ability to trade.According to the British Retail Consortium’s Credit Conditions Survey, 40 per cent of small and medium-sized retailers also say the reduction or withdrawal has undermined their position.Two thirds of larger retailers believe ...
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OpinionKingfisher well placed for future
This year Easter is just one battle in a longer war of attrition between the DIY groups that many believe will end in consolidation.