Kingfisher plc

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Kingfisher plc
Type Public limited company
Traded as LSEKGF
Industry Retail
Founded 1982
Headquarters Paddington, City of Westminster, London, United Kingdom
Key people Daniel Bernard
(Chairman)[1]
Ian Cheshire
(Group Chief Executive)[1]
Products Home improvement products such as home appliances, tools, 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 (LSEKGF) is a British multinational retailing company headquartered in London, United Kingdom.[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; this role was taken over in April 2009 by Euan Sutherland, who also has the role of Chief Executive of the UK Division of Kingfisher.[16]

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.[17]

The companies now part of the Kingfisher group are:

  • B&Q; operations in the UK, Ireland and China,
  • Brico Dépôt; in France and Spain.
  • 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 and internet ordering.[18]

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. ^ "Company overview". Kingfisher. 27 October 2012. Retrieved 29 November 2012. 
  18. ^ "Screwfix brand page". Kingfisher. 27 October 2012. Retrieved 29 November 2012. 

External links[edit]