Kingfisher plc

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Kingfisher plc
Type Public limited company
Traded as LSEKGF
OTCQXKGFHY
Industry Retail
Founded 1982
Headquarters Paddington, City of Westminster, London, United Kingdom
Key people Daniel Bernard
(Chairman)[1]
Sir Ian Cheshire
(Group Chief Executive)[1]
Products Home improvement products such as home appliances, tools, home furnishings, hardware, and garden supplies & plants.
Revenue £10.6 billion (2013)[2]
Operating income £781 million (2013)[2]
Net income £564 million (2013)[2]
Employees Approximately 78,000 (2013)[3]
Website www.kingfisher.com
Company Headquarters, 3 Sheldon Square, London

Kingfisher plc is a British multinational retailing company headquartered in London.[4] It is the largest home improvement retailer in Europe and the third-largest in the world (behind The Home Depot and Lowe's). It has over 1,030 stores in eight countries across Asia and Europe and its brands include B&Q, Castorama, Brico Dépôt and Screwfix.[5]

Kingfisher is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History[edit]

Kingfisher was founded in 1982 by the buyout of the British Woolworths chain by Paternoster Stores Ltd, which later changed its name to Woolworth Holdings plc.[6] The Company expanded through subsequent acquisitions of companies such as B&Q, Superdrug and Comet.[6] It was led from 1984 (until his retirement in 2002) by Sir Geoffrey Mulcahy, who became renowned for his taciturn public persona, lengthy decision-making and love of sailing. Largely through his influence, Kingfisher became the major sponsor of British sailor Dame Ellen MacArthur.[7] It was renamed Kingfisher plc in 1989.[6]

Further acquisitions of European companies such as Castorama,[8] BUT S.A.[9] and Wegert[10] enabled the Company to grow to become the largest general retail business in the UK. In 1999, Kingfisher attempted a takeover of Asda, one of the UK's largest supermarket chains, only to be beaten by Wal-Mart.[11] Coupled with an acrimonious battle for control of Castorama,[12] the resultant share price pressure forced the sale and demerger of several parts of the Company by 2001, including Woolworths (forming the Woolworths Group),[13] and the demerger of the electricals business to form Kesa Electricals in 2003 – causing the Company to refocus entirely around DIY.[14]

The Company was led by Gerry Murphy from 2002 until 2008.[15] In January 2008 Kingfisher appointed Ian Cheshire as group chief executive.[15] Cheshire was formerly B&Q's chief executive; his B&Q role was taken over in April 2009 by Euan Sutherland, who also heads up the UK Division of Kingfisher.[16]

In September 2014, it was announced that the head of Castorama Véronique Laury would replace Ian Cheshire as Kingfisher group CEO as of February 2015. Laury has worked at Kingfisher for eleven years, including roles at B&Q.[17][18]

Operations[edit]

Kingfisher currently operates over 1,030 stores in eight countries in Asia and Europe. Its main retail brands are B&Q, Castorama, Brico Dépôt, and Screwfix.[19]

The companies now part of the Kingfisher group are:

  • B&Q; operations in the UK, Ireland and China
  • Brico Dépôt; in France, Spain and Romania
  • Castorama; in France, Poland and Russia
  • Hornbach DIY; with over 130 stores across Europe; Kingfisher holds a 21% stake
  • Koçtaş; 50% joint venture in Turkey
  • Screwfix; 300 branches in the UK, plus mail order and internet sales[20]

References[edit]

  1. ^ a b "Management & committees". Kingfisher plc. 3 June 2009. Retrieved 18 April 2011. 
  2. ^ a b c "Kingfisher plc Preliminary results for the year ended 28 January 2013" (PDF). Retrieved 11 March 2014. 
  3. ^ "About us". Kingfisher.co.uk. 26 March 2013. Retrieved 23 July 2013. 
  4. ^ "Kingfisher Group." Kingfisher plc. Retrieved 2 February 2011. "Kingfisher UK 3 Sheldon Square Paddington London W2 6PX"
  5. ^ "About us". Kingfisher.com. 21 November 2012. Retrieved 21 November 2012. 
  6. ^ a b c "Kingfisher History". Kingfisher.com. Retrieved 18 April 2011. 
  7. ^ Offshore Challenges Media/ISAF Secretariat (3 January 2002). "Kingfisher continues sponsorship". Sailing.org. Retrieved 18 April 2011. 
  8. ^ "French turn eyes to International Arena". Findarticles.com. Retrieved 18 April 2011. 
  9. ^ "Kingfisher takes stake in French retailer". New York Times. 24 June 1998. Retrieved 18 April 2011. 
  10. ^ Kingfisher builds position in Germany[dead link]
  11. ^ "Wal-Mart buys Asda in UK retail shock". Findarticles.com. Retrieved 18 April 2011. 
  12. ^ Osborne, Alistair (16 May 2002). "Kingfisher swoops for Castorama". The Daily Telegraph. UK. Retrieved 18 April 2011. 
  13. ^ Kingfisher springs demerger surprise
  14. ^ Kesa Chief's pay will double after split[dead link]
  15. ^ a b "The Retail Bulletin". The Retail Bulletin. Retrieved 18 April 2011. 
  16. ^ "New man in B&Q hot seat". Dailyecho.co.uk. 4 April 2008. Retrieved 18 April 2011. 
  17. ^ Farrell, Sean (10 September 2014). "Kingfisher names French DIY boss Véronique Laury as new chief executive". The Guardian. Retrieved 10 September 2014. 
  18. ^ Felsted, Andrea (10 September 2014). "Véronique Laury unexpected choice for Kingfisher crown". Financial Times. Retrieved 10 September 2014. 
  19. ^ "Company overview". Kingfisher. 27 October 2012. Retrieved 29 November 2012. 
  20. ^ "Screwfix brand page". Kingfisher. 27 October 2012. Retrieved 29 November 2012. 

External links[edit]