NEWS


Nature gives life to AkzoNobel’s Colour of the Year 2023


Wild Wonder – a hue inspired by the warm tones of harvested crops – has been chosen as AkzoNobel’s Colour of the Year 2023. Its upbeat glow is said to connect us with nature, creating a sense of energy and positivity. “Wild Wonder speaks to us in a language we instinctively understand,” says


Heleen


van Gent, Creative Director of AkzoNobel’s Global Aesthetic Center. “Nature is what inspires us and makes us feel better in our lives and in our homes. That’s why, for the first time in 20 years, our entire color palette is inspired by the rhythms of nature.”


Four decorative paint colour


Wickes reports record first half sales with further market share gains


Wickes achieved record sales in the first half of this year, benefitting from its value proposition and underpinned by its balanced business model, according to the Group’s latest trading update. Despite lower market volumes the DIY retailer maintained its track record of achieving market share gains in its core business, with the growth of its TradePro customer base a particular feature. DIFM ordered sales were up modestly in the first half, with delivered sales benefitting from working through the elevated order book.


Revenue for the 26 weeks to 2 July 2022 was £822.3m, an increase of 1.3% on the prior year. Against tough comparatives, core sales declined by 5.1% to £632.6m, with DIFM delivered sales increasing by 30.6% to £189.7m, reflecting a disrupted H1 2021 in which showrooms were closed for several weeks. Gross profit for the first half was £292.6m, down from £294.8m last year. Gross profit % declined by 70bp to 35.6%, a similar rate of decline to that seen in FY2021. The key drivers were again inflation and product mix, the latter reflecting a higher mix of TradePro sales. David Wood, Chief Executive, commented: “This was a half in which we achieved record sales, as customers continued to be attracted to our market leading value, choice and availability and I would like to thank all my colleagues for their hard work and support in delivering these results.”


4 DIY WEEK SEPTEMBER 2022


colours for a timeless look that’s also bang on trend. “Our research insights are also invaluable for


industrial


customers looking for the perfect finish,” says Michael Friede, Chief Commercial Officer for Performance Coatings. “We develop market-specific offerings based in colour and materials research and market analysis. I’m especially excited to share this bold, nature- infused color story with our customers. It’s what we’re all about: People. Planet. Paint.”


palettes have been designed around Wild Wonder: Lush Colours (the forest hues), Buzz Colours (meadow brights), Raw Colours (harvest shades) and


Flow Colours (seashore tones). For consumers personalising their homes and urban environments, the palettes make it easy to choose wall


• For more information about the AkzoNobel Colour of the Year 2023, visit www.akzo.no/ COTY2023 and follow #CF23 on social media.


Tile Giant boosts its retail footprint with the launch of its new Sutton store


Leading tile retailer, Tile Giant, has extended its retail footprint, opening its 83rd store in Sutton, London. Building on a successful retail operation that has spanned the last 20 years, the new store will open on 10th October offering a wide range of ethically sourced, design- led ceramic and porcelain tiles ready to take away, plus an even bigger selection available to click and collect or for home delivery. With tiles sourced from far and wide, the new store will offer a diverse collection of wall and floor tiles, as well as a comprehensive range of laminate, luxury vinyl and engineered wood flooring, together with an exclusive brand


collaboration with Ideal Home that brings designer style to the home. To ensure customers can get


the products they need quickly, Sutton will stock a range of project


essentials, including


levelling compounds, grouts, adhesives, tools, cutters and trims, from popular brands. Mike Ashley, CEO of Tile Giant, said: “The last few years have seen a number of strategic changes within Tile Giant to secure and strengthen our position within the tile and flooring market, with the team keen to expand our retail footprint into the new year through a series of store openings. “Our store format, product and


portfolio highly skilled


Cost of living crisis stops half of homeowners from undertaking home improvements


Research by property maintenance solution provider, Help me Fix, has revealed that the current cost


of living crisis is


stopping more than half of homeowners (52%) from hiring skilled professionals to carry out their required home improvements, with 49% also stating they will also be spending less on their own DIY endeavours. The UK hardware and home


improvement store sector has grown substantially during the pandemic, with the latest data showing the current market size is estimated to be £14.5bn, having


increased by 10.5%


team are tried and tested, with Sutton set to be another strong performer for us. It’s an ideal location for us, based on a trade park with easy access, free parking and a large floor space to ensure we have a strong stock holding to service trade customers as well as homeowners.”


Kingfisher plc issues half-year financial results


Highlights of Kingfisher’s 2022


half-year results


include: H1 performance in line with expectations (total sales -2.8% in constant currency and LFL -4.1%); sales significantly ahead of pre-pandemic levels (three- year LFL sales +16.6%), supported by market share gains; Group Q2 sales trend ahead of Q1; resilient sales from both DIY and DIFM/ trade categories; continued effective management of inflation and supply chain pressures;


and strong


execution against strategic priorities and investing for


growth – digital, trade proposition, Screwfix


Poland expansion. Thierry


Garnier, and Chief


Executive Officer, said: “Kingfisher has delivered a very resilient first half of sales. While facing very strong comparatives from the prior year as well as a more challenging environment, LFL sales were 16.6% ahead of pre-pandemic levels with a sequential improvement from Q1 to Q2. This was driven by the extension of share gains in all our key markets,


reflecting successful execution of our strategy, and resilient sales from both DIY and trade customers. We are now back to pre-pandemic levels for in-store product availability and maintaining competitive pricing across our banners. “Looking


to the months


ahead, although trading in the year to date has been in line with our expectations, we remain vigilant against the more uncertain economic outlook for the second half. We are therefore focussed on delivering value to our customers at a time when they need it most,” concluded Garnier.


between 2019 and 2020. What’s more, with the average person spending £783 per year on DIY, the market is expected to grow a further 2% by 2025, hitting a total value just shy of £14.8bn. However, the latest survey of consumer sentiment by Help me Fix has revealed that the current cost of living crisis could put a real dent in the expected trajectory of the sector, as home improvements and DIY projects take a back seat due to tighter household finances.


The survey of almost 3,700 homeowners found that 32% of us have a current home improvement or maintenance task that requires the help of a skilled trades professional. Ettan Bazil, CEO and Founder of Help me Fix said: “It’s an incredibly difficult time for UK households and so it’s understandable that many of us simply don’t have the disposable income to splash on home improvements or maintenance tasks.


“This will undoubtedly have an impact on the wider home improvement sector and its forecast growth.”


www.diyweek.net


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