NEWS
Bunnings UKI dents Wesfarmers’ profits
Patlock secures listings in two major national retailers
Following its appearance on Dragons’ Den, Patlock – the fitted French door lock, has landed deals with Argos and Robert Dyas nationwide. Already listed in Bunnings
stores, Patlock is now stocked in Argos and Robert Dyas stores across the UK, as well as online via the two retailers’ transactional websites. It also has online listings with B&Q and Screwfix. The new listings were secured after an appearance on BBC Two’s Dragons’ Den in 2017 by Craig Knott, the founder of Patlock, which saw sales increase by 200% year on year.
The device assists home owners in securing their property against burglars and the method of forced entry known as lock snapping. It was named Best New Product in 2017 at trade show, Totally DIY.
Rectella International head of sales Caroline Morris said: “Since Patlock launched, we’ve witnessed steady growth in sales and we experienced a huge boost after the Dragons’ Den pitch was broadcast. Now, with a greater physical presence and access to a wider pool of loyal Argos and Robert Dyas customers, we expect to see sales soar even higher. “With figures showing there’s a
break-in every 15 minutes in the UK – there’s clearly strong demand for a solution like Patlock and to have secured such high-profile listings demonstrates this.”
Bunnings’ parent, Wesfarmers Ltd has reported a net profit after tax (NPAT) of $212 million for the half-year ended December 31, 2017, as its failures with the Homebase chain come to light. The figure includes post- tax significant items of $1,323 million relating to Bunnings United Kingdom and Ireland (BUKI) and Target. Excluding these significant items, NPAT for the half-year decreased 2.7%t to $1,535 million. Managing director Rob Scott said the continued strong momentum in Bunnings Australia and New Zealand (BANZ),
Kmart and Officeworks, in a competitive retail environment, was a highlight for the half. “Strong production volumes and higher coal prices in the Resources business contributed to a significant increase in the Industrials division’s earnings,” Mr Scott said. “Higher earnings across a majority of the Group’s businesses were offset by losses in BUKI and lower Coles earnings following planned investments in price and service. BUKI reported a loss before
interest and tax of £97 million ($165 million) for the half, compared to a loss of £28 million ($48 million) in the prior corresponding period.
Revenue for BUKI decreased 15.5% to £517 million (15.7% to $875 million).
“The loss for the half reflected continued trading and execution challenges as a result of the rapid repositioning of Homebase following the acquisition,” Mr Scott said.
“The management team has been strengthened and a review is underway to identify the actions required to improve shareholder returns.” In addition to BUKI’s reported
loss, pre-tax significant items of £531 million ($931 million) were recorded in the half, reflecting the current trading performance
Kingfisher announces plans to axe 400 jobs in France
Europe’s largest home improvement retailer said it planned to cut more than 400 jobs at its Castorama and Brico Depot units in France as it seeks to reduce costs amid weak sales. Kingfisher, which is in the second year of a global plan to boost profit by £500million a year from 2021, made the announcement to staff representatives in France, where it employs over 20,000 people. The plan, which is expected to cost £800million over five years to deliver, includes unifying product ranges and further developing e-commerce. “This project would lead to 409 job cuts in France, the creation of 102 jobs and the transfer of 164 positions,” the
statement said. In November, Kingfisher
reported a third quarter like-for- like group sales decline of 0.5 percent, reflecting weak sales in France, where sales fell 4.1 percent.
Chief executive Véronique Laury said in November of the third quarter results: “We remain confident in our ability to deliver our long-term plan and in the financial and customer benefits it will generate. Early customer reaction to our new ranges continues to be encouraging. “Q3 has followed a similar course to the first half. We have seen strong growth at Screwfix and Poland offset by continued weak sales in France, alongside some business disruption from our ONE Kingfisher plan,
of Homebase and a moderated outlook for BUKI.
CEO at shopper marketing agency Savvy, Catherine Shuttleworth, speaks about the Homebase to Bunnings conversion: “The takeover of Homebase by Bunnings seems to be in need of a more customer- focused review. The stores have undergone more of a make under than a make over – with the removal of points of inspiration to a much more masculine and functional offer. Homebase shoppers seem confused and a bit disappointed about what is now in store and sales seem to be reflecting this confusion.”
Ikea set for new store opening in Exeter
Diggers have been busy building IKEA Exeter since the official ground breaking ceremony in spring 2017. The store will be located just
principally reflecting product availability and clearance. We continue to act on the causes of this disruption which we are confident will ease. “We recognise that the transformation plan involves a lot of change for our colleagues and appreciate their continued
Toolstation opens 300th branch and plans further expansion
Toolstation announced the opening of its landmark 300th branch in Eastleigh which will open its doors on February 23, 2018.
At a time when many national
retailers are reducing their branch networks through closure, this milestone achievement demonstrates the success of Toolstation in maintaining its growth through its commitment to providing customers with quick and easy access to the products they need, as well as investing in local communities through employment creation and training.
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The branch will be located at Unit 1, Stanstead Road Trade Park, Goodwood Road, Eastleigh SO50 4RZ, and will be officially opened by Councillor Maureen Sollitt, Mayor of Eastleigh at 11.30am on Friday, February 23.
Further expansion is also on the cards, with Toolstation branches set to open in Barking, Dunfermline, Leigh, Peckham, Southwick and Telford. To celebrate reaching its 300th branch, Toolstation has announced a number of incentives to entice new and existing customers of the brand
to visit on the opening day, including:
Meet the MD of Toolstation, James MacKenzie, who will be there to talk to customers about the Toolstation journey and answer any questions
Einhell, Milwaukee and Hep2O will be present to carry out supplier demonstrations. There will be a ‘300-prize’
raffle, with 300 prizes given away to customers who make a purchase on the day. Prizes will include brand new Milwaukee drill sets and Einhell power tools. Local charities, Hampshire & Isle of Wight Air Ambulance
off Junction 30 on the M5, close to the A379 and will offer the full Ikea product range including a restaurant, crèche, playground and car park. All of which we hope will create a positive shopping experience for the whole family. Ikea Exeter, which will be just a 45 minute car journey from Plymouth, has invested £80 million in the 29,000sq m store on Newcourt Way, where it will bring its extensive range of “high-quality, affordable products” to the South West. Ikea Exeter is aiming for a BREEAM ‘Excellent’ accreditation and will incorporate a number of green technologies including photovoltaic panels and rainwater harvesting because whilst the company claim to be helping improve everyday life at home – they “are also thinking about our planet”.
and Friends of Keep in Touch will be presented with financial donations from Toolstation.
23 FEBRUARY 2018 DIY WEEK 5
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