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B&Q remain proactive despite a drop in sales

After the last week's glorious weather in the UK, it is hard to remember all the way back - to two weeks ago - when the rain was falling and retailers were suffering as a consequence
 B&Q set for revamp across UK stores
 
 

The depressing April showers seem to have taken another victim, with B&Q expected to announce an 11 percent drop in like-for-like sales.

Admittedly, last year’s trading during the same period was extremely strong, but the DIY retailer still finds itself joining a long list of companies whose stores lacked customers in the lead up to the recent heatwave.

The downturn is likely to leave B&Q down 11 percent in overall profits to £66 million, with the overall Kingfisher organisation – who own the DIY store – also down 11 percent to £76 million.

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It is by no means a case of doom and gloom for the UK franchise however, with a new development strategy set to be put in place over the coming months, which has received wide critical acclaim from retail analysts.

Kingfisher is still in the middle of a four year turnaround programme which has already seen full-year profits more than doubling to £807 million, and its specific focus on B&Q’s future is likely to maintain the upward curve in a volatile market.

There will be a heavy focus on keeping the UK store in line with its sister companies in France and Poland using the influence of the stylish continental products to grace the UK, while also standardising the range to give the store a more solid identity.

"Customers from Penzance to Perth can buy products in B&Q knowing they are as stylish as those sold in our sister stores in Paris - globally sourced yet tailored to local trends and at the best possible prices," explained Martyn Phillips, Chief Executive of B&Q UK and Ireland.

B&Q is the UK’s largest home improvement retailer, and will be looking to use this power in the market to invest £69 million into a series of product revamps, within all its stores.

This largely includes new tiling and flooring workshops, with 64 new hardwood flooring products becoming available in the next few months. A fashion-friendly female range is also going to be introduced as part of the minor overhaul.

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