Screwfix Continues to Deliver for Kingfisher

Over the full-year 2018-2019, Screwfix total sales increased by 10.3% (+4.1% LFL) to £1,671 million, driven by specialist trade desks exclusive to plumbers and electricians, strong digital growth of 19% (e.g. mobile + 44%; click & collect +23%) and the continued rollout of new outlets.

During the period 50 new outlets were opened, taking the total to 627 and a fourth distribution centre was opened in Lichfield in May.

Kingfisher has increased its overall target to approximately 800 outlets in the UK, up from approximately 700 previously.

In today's full-year results, Kingfisher also announced its intention to open Screwfix stores in the Republic of Ireland from 2019 to complement its existing online presence.  Entry into France and Poland is also a possibility

Kingfisher said: "Screwfix has achieved very strong growth over the last five years with compound annual sales growth of 20%. Its success is rooted in its customer focus, digital capability and convenience proposition.

At the end of FY 18/19 Screwfix UK had 627 outlets (nearly double the number five years ago).

In FY 19/20, Screwfix will strengthen its overall customer proposition and extend its store plan in the UK. We are now targeting approximately 800 outlets in the UK, having previously targeted 700.

On the Republic of Ireland openings:

"We also remain confident that the Screwfix model will work in markets outside of the UK. In 2019 Screwfix plans to open outlets in the Republic of Ireland. The choice of entering this market is a result of Screwfix’s strong existing online presence and similarities in customer behaviour with the UK.

"Screwfix’s experience in Germany highlighted the importance of staying true to its core model and of extensive testing. We are embedding this experience into our plans and conducting extensive validation for market entry opportunities in France and Poland, initially via an online presence. These are both markets where the Group has existing scale, infrastructure and in-depth market knowledge."

Source : Insight DIY & Kingfisher PLC

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