Around 60 B&Q stores in the UK and Ireland are to be closed over the next two years, parent Kingfisher said today as it released its full-year results.
In the year to January 31 2015, Kingfisher sales were up 2.9%, although adjusted pre-tax profit was down 7.5% to £675m. In the UK and Ireland, where Kingfisher operates B&Q and Screwfix, sales were up 5.5%, and up 3.2% like for like, to £4,600m, and retail profit grew by 16.1% to £276m.

New chief executive officer Véronique Laury also announced plans for a radical reorganisation of Kingfisher that will bring its UK and international businesses closer together, headed up by a new team. As a result, B&Q chief executive Kevin O'Byrne will leave the business.

Read more in the April 3 issue of DIY Week