Kingfisher plc: Difference between revisions

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In September 2014, it was announced that the head of Castorama [[Véronique Laury]] would replace Ian Cheshire as Kingfisher group CEO in February 2015. Laury had worked at Kingfisher for eleven years, including roles at B&Q.<ref name="Guardian Farrell">{{cite news|last1=Farrell|first1=Sean|title=Kingfisher names French DIY boss Véronique Laury as new chief executive|url=https://www.theguardian.com/business/2014/sep/10/kingfisher-veronique-laury-new-chief-executive|access-date=10 September 2014|work=The Guardian|date=10 September 2014}}</ref><ref name="FT Felsted">{{cite news|last1=Felsted|first1=Andrea|title=Véronique Laury unexpected choice for Kingfisher crown|url=http://www.ft.com/cms/s/0/2bf9a506-38c5-11e4-9526-00144feabdc0.html#axzz3CvbW46We|archive-url=https://ghostarchive.org/archive/20221210201219/https://www.ft.com/content/2bf9a506-38c5-11e4-9526-00144feabdc0#axzz3CvbW46We|archive-date=10 December 2022|url-access=subscription|access-date=10 September 2014|publisher=Financial Times|date=10 September 2014|url-status=live}}</ref> In June 2017, [[Andy Cosslett]] succeeded [[Daniel Bernard (businessman)|Daniel Bernard]] as chairman.<ref>{{cite web|url=https://www.theretailbulletin.com/news/kingfisher_chairman_daniel_bernard_to_step_down_and_be_succeeded_by_andy_cosslett_22-03-17/ |title=Kingfisher chairman Daniel Bernard to step down and be succeeded by Andy Cosslett |publisher=The Retail Bulletin |date=22 March 2017 |access-date=16 June 2017}}</ref><ref>{{cite news|author=The Sunday Times |url=https://www.thetimes.com/business-money/article/cosslett-to-scrum-down-atkingfisher-06mxh655g |title=Cosslett to scrum down at Kingfisher &#124; Business &#124; The Times & The Sunday Times |work=[[The Times]] |date=26 March 2017 |access-date=16 June 2017}}</ref>
In September 2014, it was announced that the head of Castorama [[Véronique Laury]] would replace Ian Cheshire as Kingfisher group CEO in February 2015. Laury had worked at Kingfisher for eleven years, including roles at B&Q.<ref name="Guardian Farrell">{{cite news|last1=Farrell|first1=Sean|title=Kingfisher names French DIY boss Véronique Laury as new chief executive|url=https://www.theguardian.com/business/2014/sep/10/kingfisher-veronique-laury-new-chief-executive|access-date=10 September 2014|work=The Guardian|date=10 September 2014}}</ref><ref name="FT Felsted">{{cite news|last1=Felsted|first1=Andrea|title=Véronique Laury unexpected choice for Kingfisher crown|url=http://www.ft.com/cms/s/0/2bf9a506-38c5-11e4-9526-00144feabdc0.html#axzz3CvbW46We|archive-url=https://ghostarchive.org/archive/20221210201219/https://www.ft.com/content/2bf9a506-38c5-11e4-9526-00144feabdc0#axzz3CvbW46We|archive-date=10 December 2022|url-access=subscription|access-date=10 September 2014|publisher=Financial Times|date=10 September 2014|url-status=live}}</ref> In June 2017, [[Andy Cosslett]] succeeded [[Daniel Bernard (businessman)|Daniel Bernard]] as chairman.<ref>{{cite web|url=https://www.theretailbulletin.com/news/kingfisher_chairman_daniel_bernard_to_step_down_and_be_succeeded_by_andy_cosslett_22-03-17/ |title=Kingfisher chairman Daniel Bernard to step down and be succeeded by Andy Cosslett |publisher=The Retail Bulletin |date=22 March 2017 |access-date=16 June 2017}}</ref><ref>{{cite news|author=The Sunday Times |url=https://www.thetimes.com/business-money/article/cosslett-to-scrum-down-atkingfisher-06mxh655g |title=Cosslett to scrum down at Kingfisher &#124; Business &#124; The Times & The Sunday Times |work=[[The Times]] |date=26 March 2017 |access-date=16 June 2017}}</ref>
In November 2018, Kingfisher announced plans to exit [[Spain]], [[Portugal]] and [[Russia]], to concentrate on core countries.<ref>{{Cite web|url=https://www.irishtimes.com/business/retail-and-services/kingfisher-quits-russia-spain-and-portugal-as-french-sales-tumble-1.3705982|title=Kingfisher quits Russia, Spain and Portugal as French sales tumble|website=irishtimes.com|access-date=21 November 2018}}</ref> However, by June 2020, after receiving interest from potential buyers and reviewing its strategic options, Kingfisher reversed its plan to exit Iberia, citing the potential to build a profitable and sustainable business under the Brico Dépôt brand.<ref>{{Cite web|url=https://www.diyinternational.com/content/news/2020/06/24/kingfisher-now-to-remain-in-spain-and-portugal.html|title=Kingfisher now to remain in Spain and Portugal|website=diyinternational.com|access-date=24 June 2020}}</ref>


In March 2019, it was announced that Laury would be leaving the business at a date to be announced, following the failure of her "One Kingfisher" plan, and a 52.8% collapse in pre tax profits.<ref>{{cite web|url=https://www.retail-week.com/home-and-diy/kingfisher-plans-for-laurys-exit-as-profits-crash/7031448.article|title=Kingfisher plans for Laury's exit as profits crash|last=Waller-Davies2019-03-20T07:09:00+00:00|first=Becky|website=Retail Week|access-date=20 March 2019}}</ref> In September 2019, [[Thierry Garnier]] was appointed as CEO.<ref>{{Cite web|url=https://www.retail-week.com/home-and-diy/profile-thierry-garnier-kingfishers-new-chief-executive/7032277.article|title=Profile: Thierry Garnier – Kingfisher's new chief executive|first=Leanne|last=Carr|date=2019-06-28|website=Retail Week}}</ref>
In March 2019, it was announced that Laury would be leaving the business at a date to be announced, following the failure of her "One Kingfisher" plan, and a 52.8% collapse in pre tax profits.<ref>{{cite web|url=https://www.retail-week.com/home-and-diy/kingfisher-plans-for-laurys-exit-as-profits-crash/7031448.article|title=Kingfisher plans for Laury's exit as profits crash|last=Waller-Davies2019-03-20T07:09:00+00:00|first=Becky|website=Retail Week|access-date=20 March 2019}}</ref> In September 2019, [[Thierry Garnier]] was appointed as CEO.<ref>{{Cite web|url=https://www.retail-week.com/home-and-diy/profile-thierry-garnier-kingfishers-new-chief-executive/7032277.article|title=Profile: Thierry Garnier – Kingfisher's new chief executive|first=Leanne|last=Carr|date=2019-06-28|website=Retail Week}}</ref>


In March 2021, following a franchise agreement with [[Al-Futtaim Group]], Kingfisher will expand its B&Q market to the Middle East. The Al-Futtaim Group will run and staff the stores in Saudi Arabia entirely.<ref>{{Cite web|date=9 March 2021|title=Britain's B&Q owner to build Middle East business with Al-Futtaim|url=https://www.reuters.com/article/kingfisher-saudi-idINL8N2L7345|access-date=22 March 2021|website=reuters}}</ref><ref>{{Cite web|last=Mead|first=Neil|date=9 March 2021|title=Kingfisher announces the signing of a franchise agreement with the Al-Futtaim Group to expand B&Q in the Middle East|url=http://diyweek.net/kingfisher-announces-the-signing-of-a-franchise-agreement-with-the-al-futtaim-group-to-expand-b-q-in-the-middle-east|access-date=22 March 2021|website=DIY Week}}</ref>
In March 2021, following a franchise agreement with [[Al-Futtaim Group]], Kingfisher will expand its B&Q market to the Middle East. The Al-Futtaim Group will run and staff the stores in Saudi Arabia entirely.<ref>{{Cite web|date=9 March 2021|title=Britain's B&Q owner to build Middle East business with Al-Futtaim|url=https://www.reuters.com/article/kingfisher-saudi-idINL8N2L7345|access-date=22 March 2021|website=reuters}}</ref><ref>{{Cite web|last=Mead|first=Neil|date=9 March 2021|title=Kingfisher announces the signing of a franchise agreement with the Al-Futtaim Group to expand B&Q in the Middle East|url=http://diyweek.net/kingfisher-announces-the-signing-of-a-franchise-agreement-with-the-al-futtaim-group-to-expand-b-q-in-the-middle-east|access-date=22 March 2021|website=DIY Week}}</ref>
In December 2024, Kingfisher agreed to sell its Brico Dépôt subsidiary in [[Romania]] business to Altex Romania. The sale which was completed in May 2025, included 31 stores across 24 cities, distribution operations, and the head office in Bucharest. Under the new ownership, the business continues to operate under the Brico Dépôt brand and retains part of its existing product range.<ref>{{Cite web|url=https://www.reuters.com/markets/deals/home-improvement-retailer-kingfisher-sells-romanian-unit-74-mln-2024-12-18/|title=Home improvement retailer Kingfisher sells Romania business|website=reuters.com|access-date=18 December 2024}}</ref>


==Operations==
==Operations==
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* [[Comet (retailer)|Comet]]; spun off July 2003, closed in December 2012.<ref>{{cite web|url=https://www.bbc.co.uk/news/business-20765983|title=Comet stores open for final day|date=18 December 2012|publisher=BBC|access-date=10 March 2018}}</ref>
* [[Comet (retailer)|Comet]]; spun off July 2003, closed in December 2012.<ref>{{cite web|url=https://www.bbc.co.uk/news/business-20765983|title=Comet stores open for final day|date=18 December 2012|publisher=BBC|access-date=10 March 2018}}</ref>
* [[Superdrug]]; sold to Kruidvat Beheer BV in July 2001, then [[A.S. Watson Group]] in October 2002.<ref name=demerge/>
* [[Superdrug]]; sold to Kruidvat Beheer BV in July 2001, then [[A.S. Watson Group]] in October 2002.<ref name=demerge/>
* [[Music and Video Club|MVC]]; spun off with the Woolworths Group, in July 2005, ceased trading January 2006.<ref name=bt>{{cite web |url=http://www.bedfordtoday.co.uk/bed-news/Sad-note-as-MVC-is.1299554.jp |title=Sad note as MVC is called into administration |publisher=Bedford Today |date=1 January 2006|access-date=12 February 2009}}</ref>
* [[Music and Video Club|MVC]]; spun off with the Woolworths Group, in July 2005, ceased trading January 2006.<ref name=bt>{{cite web |url=http://www.bedfordtoday.co.uk/bed-news/Sad-note-as-MVC-is.1299554.jp |title=Sad note as MVC is called into administration |publisher=Bedford Today |date=1 January 2006 |access-date=12 February 2009 |archive-date=20 April 2013 |archive-url=https://archive.today/20130420062529/http://www.bedfordtoday.co.uk/bed-news/Sad-note-as-MVC-is.1299554.jp |url-status=dead }}</ref>


==References==
==References==

Revision as of 03:33, 19 June 2025

Template:Short description Template:Use British English Template:Use dmy dates Script error: No such module "Infobox".Template:Template otherTemplate:Main otherScript error: No such module "Check for clobbered parameters".Script error: No such module "Check for unknown parameters". Kingfisher plc is a British multinational retailing company headquartered in London, England.[1]

It has over 1,300 stores in nine countries, and its brands include B&Q, Castorama, Brico Dépôt and Screwfix.[2] Kingfisher is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index.[3]

History

The company was founded in 1982 as Paternoster Stores Ltd, to conduct a buyout of the British Woolworths chain. In March 1983, Paternoster changed its name to Woolworth Holdings plc.[4] Woolworths already owned B&Q, and the company expanded through subsequent acquisitions of companies such as Superdrug and Comet.[4]

The business acquired Screwfix in July 1999, which is now the United Kingdom's largest multi channel retailer of trade tools, accessories and hardware products. The company was led from January 1984, until his retirement in December 2002, by Sir Geoffrey Mulcahy. Largely through his influence, the company became the major sponsor of British sailor Ellen MacArthur.[5]

Woolworth Holdings was renamed Kingfisher plc in December 1989.[4] Further acquisitions included European companies such as Castorama,[6] BUT S.A.[7] and Wegert.[8] In July 1999, Kingfisher attempted a takeover of Asda, one of the United Kingdom's largest supermarket chains, only to be beaten by Walmart.[9]

In August 2001, coupled with an acrimonious battle for control of Castorama,[10] the resultant share price pressure forced the sale and demerger of several parts of the company, including Woolworths (forming the Woolworths),[11] and the demerger of the electricals business to form Kesa Electricals in July 2003 – causing the company to refocus entirely around DIY.[12]

The company was led by Gerry Murphy from December 2002 to November 2007.[13] In January 2008, Kingfisher appointed Ian Cheshire as group chief executive.[13] Cheshire was formerly B&Q's chief executive; his B&Q role was taken over in April 2009, by Euan Sutherland, who also headed up the United Kingdom division of Kingfisher.[14]

In September 2014, it was announced that the head of Castorama Véronique Laury would replace Ian Cheshire as Kingfisher group CEO in February 2015. Laury had worked at Kingfisher for eleven years, including roles at B&Q.[15][16] In June 2017, Andy Cosslett succeeded Daniel Bernard as chairman.[17][18]

In November 2018, Kingfisher announced plans to exit Spain, Portugal and Russia, to concentrate on core countries.[19] However, by June 2020, after receiving interest from potential buyers and reviewing its strategic options, Kingfisher reversed its plan to exit Iberia, citing the potential to build a profitable and sustainable business under the Brico Dépôt brand.[20]

In March 2019, it was announced that Laury would be leaving the business at a date to be announced, following the failure of her "One Kingfisher" plan, and a 52.8% collapse in pre tax profits.[21] In September 2019, Thierry Garnier was appointed as CEO.[22]

In March 2021, following a franchise agreement with Al-Futtaim Group, Kingfisher will expand its B&Q market to the Middle East. The Al-Futtaim Group will run and staff the stores in Saudi Arabia entirely.[23][24]

In December 2024, Kingfisher agreed to sell its Brico Dépôt subsidiary in Romania business to Altex Romania. The sale which was completed in May 2025, included 31 stores across 24 cities, distribution operations, and the head office in Bucharest. Under the new ownership, the business continues to operate under the Brico Dépôt brand and retains part of its existing product range.[25]

Operations

Kingfisher currently operates over 1,300 stores in eight countries in Europe and in Turkey. Its main retail brands are B&Q, Castorama, Brico Dépôt and Screwfix.[26]

The companies now part of the Kingfisher group are:

  • B&Q; operations in the United Kingdom and Ireland
  • Brico Dépôt; in France, Spain, Portugal and Romania
  • Castorama; in France and Poland
  • Koçtaş; 50% joint venture in Turkey
  • Screwfix; in the United Kingdom, Ireland and France

Former operations

References

Template:Reflist

External links

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Template:Kingfisher Plc Template:FTSE 100 Index constituents Template:European Retail Round Table

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  1. ↑ "Kingfisher Group Template:Webarchive." Kingfisher plc. Retrieved 2 February 2011. "Kingfisher UK 3 Sheldon Square Paddington London W2 6PX"
  2. ↑ Script error: No such module "citation/CS1".
  3. ↑ Script error: No such module "citation/CS1".
  4. ↑ a b c Script error: No such module "citation/CS1".
  5. ↑ Script error: No such module "citation/CS1".
  6. ↑ Script error: No such module "citation/CS1".
  7. ↑ Script error: No such module "citation/CS1".
  8. ↑ Script error: No such module "citation/CS1".
  9. ↑ Script error: No such module "citation/CS1".
  10. ↑ Script error: No such module "citation/CS1".Template:Dead linkTemplate:Cbignore
  11. ↑ Script error: No such module "citation/CS1".Template:Dead linkTemplate:Cbignore
  12. ↑ Kesa Chief's pay will double after split Template:Webarchive
  13. ↑ a b Script error: No such module "citation/CS1".
  14. ↑ Script error: No such module "citation/CS1".
  15. ↑ Script error: No such module "citation/CS1".
  16. ↑ Script error: No such module "citation/CS1".
  17. ↑ Script error: No such module "citation/CS1".
  18. ↑ Script error: No such module "citation/CS1".
  19. ↑ Script error: No such module "citation/CS1".
  20. ↑ Script error: No such module "citation/CS1".
  21. ↑ Script error: No such module "citation/CS1".
  22. ↑ Script error: No such module "citation/CS1".
  23. ↑ Script error: No such module "citation/CS1".
  24. ↑ Script error: No such module "citation/CS1".
  25. ↑ Script error: No such module "citation/CS1".
  26. ↑ Script error: No such module "citation/CS1".
  27. ↑ a b Script error: No such module "citation/CS1".
  28. ↑ Script error: No such module "citation/CS1".
  29. ↑ Script error: No such module "citation/CS1".
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