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NEWS


Kingfisher launches new brand GoodHome in Wallington


On April 26 2019, the new GoodHome by B&Q store opened at 31 – 35 Stafford


Road, Wallington


offering a new simpler way of shopping for home improvement projects. Kingfisher describe the store


as fresh, modern and a local store that offers much more than just home improvement products; it has a team of skilled colleagues offering expert help instore; an effortless digital shopping experience designed to make improving our homes easier; and inspiration and


information to help plan home improvement projects. It will also have a dedicated counter for professional tradespeople. GoodHome is


a new


international brand from Kingfisher. Understanding that home improvement can be complicated, expensive and frustrating, its mission is to simplify the customer experience, making home improvement


accessible for


everyone. The new brand will offer affordable improvement solutions, using innovative, sustainable, design-driven, great


Tile Mountain acquires Walls and Floors


The latest deal to take on Kettering-based business Walls & Floors has secured Tile Mountain Group’s place as the UK’s largest privately- owned tile retailer. Established in 1987, Walls and Floors is headed up by Duncan Lewin and Richard Greenbank. It currently employs nearly 200 people and has an annual turnover of more than £30million. Tile Mountain’s acquisition of the business forms part of chairman Mo


Iqbal and managing


director Jeremy Harris’ ongoing expansion strategy, which has already seen the company take on Coventry-based Capitol Tiles and online retailer Tons of Tiles. The move has significantly


increased Tile Mountain’s share of the market and positioned the once online-only business


as multi-faceted operation now able to compete in multiple markets including e-commerce, store-based retail, wholesale and contracts. As part of the deal, Mountain has also


GIMA secures strong retailer line-up for Buyer Connect


20-minute appointment sessions. Klondyke


Group


Garden and home retailers, Klondyke Group, Crocus, Wayfair,


Haskins


Centres are all confirmed to take part in GIMA’s upcoming networking event next month. GIMA confirmed today that the horticultural buyer from Klondyke Group is the latest addition to the roster of retailers set to take part in the Buyer Connect session on May 29.


This speed networking event allows potential suppliers to meet with key garden retailers in timed


www.diyweek.net operates Garden


22 garden centres throughout Scotland, England and Wales. The five Scottish-based centres trade as Klondyke Garden Centres, with the 17 garden centres in England and Wales operating under the name of Strikes Garden Centres. The group’s horticultural buyer would like to see suppliers of the following: wild bird care, fertiliser, gloves & garden footwear, garden chemicals,


propagation,


watering & garden accessories. Meanwhile, the Crocus team is


responsible for sourcing products for its own websites, well as working with affiliates at the RHS, Waitrose and Next.


quality products. To differentiate the smaller sized store, the new concept in Wallington has been given a new name – GoodHome by B&Q - and offers a new home improvement shopping experience.


As a local home improvement


store, GoodHome by B&Q will make home improvement shopping easier and more convenient by combining expert help and advice, with access to 6,000 products for the most frequent and urgent projects such as painting walls, fixing taps or installing new sockets. This


Tile taken


ownership of Walls and Floors’ retail, distribution, and specification divisions. Tile Mountain chairman Mo Iqbal said of the deal: “Over the years, led by Richard and Duncan, Walls and Floors has developed into one of the major players in the UK tiling industry and I am excited about leading the company into the next phase of its growth”. Walls and Floors has been trading online for around 15 years and operates tile showrooms in Putney, Bristol and Kettering, as well as a trade counter in Kettering. The retailer’s strong online offering, coupled with its established brand footprint and positive customer sentiment, has been a key driver in the acquisition. Tile Mountain’s management team aim to develop the long-established firm further by utilising their years of expertise in the market and Tile Mountain’s best-in-class IT resource, which has helped bolster the company’s growth to date.


core range of 6,000 products will also be available for same day delivery, with an extended range of over 20,000 products for bigger projects, available for next day Click and Collect in store or home delivery.


The new concept has been


designed to give customers the experience they need from each visit. For those needing help and advice, experienced B&Q colleagues will be on hand in the specially created customer area to discuss projects over a free cup of coffee. The store offers extended opening hours for all customers from 7am to 8pm and has a dedicated counter


for trade


customers, offering a convenient way to stock up on essential products ‘for the van’ as well as the option to access the wider range for next day collection with the help of specialist colleagues. The new brand launched by Kingfisher is the first major change alongside


its management


restructure in March, which saw the announcement of CEO Veronique Laury stepping down from her role, as the company’s profits took a dive.


Revenue “flat” for Akzo Q1 figures


Akzo Nobel reported its Q1 figures, reporting revenue as flat in a seasonally low quarter; up 1% in constant currencies, with positive price/mix offset by 7% lower volumes; acquisitions contributed 1%. Adjusted operating income was up by 9% at €163 million, with last year at €149 million, which included gains on disposals, driven by


ongoing pricing


initiatives and cost-saving programs. ROS was at 7.5% from 6.8% in 2018.


Operating income at €113


million includes €50 million adverse impact from identified items, to which Akzo describe as “mainly related to transformation costs and non-cash impairments”, in 2018: operating income of €108 million was negatively impacted by €41 million of these identified items.


Decorative Paints ROS


Borrowing for home improvements on the rise


The average home improvement loan has increased by 16% in 2019, with households in the South East borrowing more for home improvements than any other region in the first quarter of this year, whilst the East Midlands saw biggest spike in home improvement loans. According to new data from Bank,


Shawbrook tools, the South


East is the UK’s ‘DIY capital’, with


during the first three


months of 2019 and across the whole of 2018.


Shawbrook Bank managing households borrowing


more for home improvements than anywhere else in the country


director Paul Went said households “are clearly looking to maximise the value of their home by carrying out home improvements”,


regardless of whether house prices in their


was up at 7.1% supported by 6% positive price/mix, driven by ongoing pricing initiatives. In the Decorative Paints category, revenue was reported as flat; with 2% higher in constant currencies; price/mix was 6% positive,


initiatives, while acquisitions contributed 2%. Adjusted operating income increased to €60 million, in 2018 it was at €56 million, with pricing initiatives and cost savings compensating for higher raw material costs and lower volumes. Akzo


said of its figures:


“We continue executing our transformation to deliver the next €200 million cost savings by 2020, incurring one-off costs in 2019 and 2020. We target a leverage ratio of between 1.0-2.0 times net debt/ EBITDA by the end of 2020.”


region are flat or increasing. Analysis of Shawbrook’s loan


data shows the average size of a home improvement loan has increased by 16% when comparing the


first quarter of


2019 with the same period for 2018.


The increase in the amount of money Shawbrook’s Personal Loan customers are borrowing to renovate their homes could be due to changes in the value of


referendum in 2016 the value of sterling has fallen and therefore the cost of imported goods and raw materials has risen.


Although the cost of home


improvements may be on the rise if construction firms are forced to pass on price increases to their clients, there is still value to be made from renovations that are well-planned.


10 MAY 2019 DIY WEEK 5 driven by pricing


the pound. Since the EU


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