More than 100 new B&Q and Screwfix stores are opening across the UK
The boss of DIY giants B&Q and Screwfix has issued a statement on the future of its UK stores after pre-tax profits dropped from £1billion to £611million. DIY superstores B&Q and Screwfix are popular for their offerings of DIY tools, decorations, household items and gardening equipment.
Kingfisher says it plans to open at least 50 smaller B&Q stores and 60 more Screwfix sites. The smaller stores will look different to the huge megastores shoppers are used to, but will still serve the same purpose. “We have no debt, we have executed our plan and there is a lot of opportunities for growth still. It is our responsibility to pursue growth quickly”. The news comes after B&Q said it will close eight of its sites in ASDA stores.
B&Q said the decision was made after an "intensive review" of the test format. At the time of the announcement, B&Q strategy director Chris Bargate said the retailer will now focus on its smaller B&Q Local high street stores.B&Q is one of many brands planning an expansion this year, in what will be a further boost for the UK high street. Greggs plans to open 150 new branches this year, as well as refurbishing another 150 and relocate 40 of its shops to larger sites.
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