Screwfix boss Andrew Livingston has exited the business, leaving it in a position of having comfortably outperformed its Kingfisher stablemate B&Q in recent years.

It is not difficult to see that Screwfix has been the jewel in Kingfisher’s crown and Andrew Livingston has been instrumental in its success.

While B&Q has reported relatively healthy like-for-like sales growth in more recent periods, this has been dwarfed by the impressive figures achieved by its smaller sister brand.

Over the past three years, like-for-likes at Screwfix have been in double digits, despite a very aggressive opening programme that has seen it open around one new store every week.

Sales have also more than doubled to £1.3bn since Livingston’s appointment as chief executive in 2013.

This contrasts with the fortunes of B&Q in the UK and Ireland, although it is, of course, a mature business that has also had to contend with store closures as it ‘right-sized’ its network.

Profit figures

Screwfix’s profit performance has also been outstanding.

Kingfisher no longer breaks down separate profit figures for Screwfix and B&Q in the UK in its annual report and some detractors have suggested that this has been done to hide the uncomfortable truth that B&Q is not a very profitable business.

Figures available through Companies House show that Screwfix’s margins ran at more than double the level of those at B&Q prior to 2015/16, when B&Q’s UK subsidiary was loss-making due to costs arising from store closures.

While this data has yet to become available for 2016/17, there is unlikely to have been a reversal of positions.

Livingston’s achievements go beyond core financial metrics though.

Screwfix store estate

Since early 2013, Screwfix’s store network has virtually doubled to more than 500 stores and he also led a move into Germany in 2014.

During Livingston’s time at the helm, he showed a deep understanding of the customer, overseeing many initiatives designed to increase the level of convenience for its core target market of trade professionals.

But despite having a world-class multichannel offer, Screwfix has continued to refine its proposition – working out what the customer wants and then finding ways to do it.

It is clear that new boss Graham Bell – who was promoted from the role of operations and property director – will have a lot to live up to.

However, it should be remembered that four years ago Livingston too was an internal promotion, succeeding the highly regarded Steve Willet.

Topics