Kingfisher, Europe’s largest home improvements retailer, says it may open 200 more Screwfix stores in the UK.
The stores, which are focused on trade customers rather than the DIY market, are proving so successful, the company may expand the current network from 412 to beyond 600. It plans as many as 60 a year destined for larger cities with large customer base of tradespeople.
“What we are aiming with the 200 stores is to put Screwfix really close to the tradesmen because they won’t drive very far to find a Screwfix. Time is money for them,” CEO Veronique Laury told a press conference this week.
The Screwfix stores in Britain supply plumbing and electrical equipment and tools. Same store sales rose 16.5 per cent in the last half year.
Kingfisher reported a 2.3 per cent drop in profits in the half year to August, largely attributable to exchange rate movements.