International DIY News
Screwfix Not Looking to Exit Germany
According to diyonline.de, Kingfisher is not planning to remove the Screwfix trading fascia from Germany - a rumour that had been circulating since October 2018.
Internal communications are understood to have revealed that Kingfisher might consider closing unprofitable Screwfix stores but the company is 'definitely' not looking to withdraw from the German market.
A recent trading update stated that while at Screwfix Germany increased by 19.2% (+19.6% LFL) the business actually made an £8 million retail loss (2017/18: £9 million reported retail loss) in the six months ended 31st July 2018.
Screwfix currently operates 19 stores in Germany.
Source : Insight DIY Team
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