Ironmongery Direct, an online and mail order
supplier of ironmongery products, delivered a 20 per cent sales
growth and 25 per cent increase in profits in 2011. Marking its
seventh year of consecutive growth, turnover hit £15
million, up 20 per cent on 2010. EBITDA grew to £1.25
million, a 25 per cent increase on 2010. Last year saw the
business invest at least £2.5 million in its infrastructure.
It moved to new premises and implemented new SAP business
management software. For 2012, Ironmongery Direct has set a
target of 35 per cent growth, reaching £20 million
turnover.
As part of an organisational restructure to become a more
“unified” retailer, Euan Sutherland, currently
the chief executive of Kingfisher UK & Ireland,
is moving to the role of Kingfisher chief operating officer. He
will assume responsibility for IT, property and human resources
but retain responsibility for the Screwfix
business. Kevin O’Byrne, currently group finance director,
becomes Kingfisher divisional chief executive for
B&Q. His remit includes the B&Q business in the
UK and China as well as the B&Q joint venture in Turkey and the
alliance with Hornbach in Germany. Under this
new structure, the role of chief executive Kingfisher
international will no longer exist, which will see Peter Hogsted
leave the business later in the year. Releasing its fourth
quarter results today, Kingfisher UK & Ireland reported a 1.5
per cent increase in sales in 13 weeks to 28th January 2012, to
£968 million. B&Q total sales were broadly flat at £837
million, but down 2.5 per cent on a like-for-like basis. Screwfix
total sales grew 10.3 per cent to £131 million boosted by new
ranges, the addition of specialist trade desks exclusive to
plumbers and electricians within existing outlets, and the
continued rollout of new outlets.
Jersey-based online retailer Indigo Starfish may
be letting hundreds of its employees go, reports the BBC. Staff at the business have been warned they
could lose their jobs at the end of March as a result of the
government’s decision to scrap low-value consignment relief
(LVCR).
Furniture Village has launched an online
lifestyle magazine, featuring editorial content such as practical
guides, design trends, masterclass videos, and “10
best” features written by its buying team and edited by
online marketing exec Amanda Sanders. In addition, FV
Magazine will include exclusive recipes by food writer and
TV cook Jo Pratt; sleep advice from GP and TV broadcaster Dr
Hilary Jones and styling tips from interiors stylist and
journalist Diana Civil.
The Institute of Direct and Digital Marketing (IDM) has announced
that Professor Derek Holder, co-founder and managing director of
the Institute, passed away on 14th February 2012. In a statement,
the IDM’s trustees and directors said Professor Holder’s
“encyclopaedic knowledge of marketing, his incisive business
acumen and sense of humour will be sorely missed by all those in
the profession”.
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