Type | Public limited company (LSE: KGF) |
---|---|
Industry | Retail (Home Improvement) |
Founded | 1982 |
Headquarters | London, United Kingdom |
Key people | Ian Cheshire, CEO & Chairman |
Products | Home improvement products such as home appliances, tools, hardware, and garden supplies & plants. |
Revenue | £10,503 million (2010)[1] |
Operating income | £547 million (2010)[1] |
Net income | £385 million (2010)[1] |
Employees | 64,576 (2010)[2] |
Website | www.kingfisher.co.uk |
Kingfisher plc (LSE: KGF) is a multinational retailer headquartered in London, United Kingdom. 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 around 840 stores in eight countries across Europe and Asia and its brands include B&Q, Castorama, Brico Dépôt and Screwfix.
It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Contents |
History
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.[3] The Company expanded through subsequent acquisitions of companies such as B&Q, Superdrug and Comet.[3] 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.[4] It was renamed Kingfisher plc in 1989.[3]
Further acquisitions of European companies such as Castorama,[5] BUT S.A.[6] and Wegert[7] 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.[8] Coupled with an acrimonious battle for control of Castorama,[9] the resultant share price pressure forced the sale and demerger of several parts of the Company by 2001, including Woolworths (forming the Woolworths Group),[10] and the demerger of the electricals business to form Kesa Electricals in 2003 - causing the Company to refocus entirely around DIY.[11]
The Company was led by Gerry Murphy from 2002 until 2008.[12]
In January 2008 Kingfisher appointed Ian Cheshire as Group Chief Executive.[12] Ian 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.[13]
Operations
Kingfisher currently operates over 830 stores in eight countries in Europe and Asia. Its main retail brands are B&Q, Castorama, Brico Dépôt, and Screwfix[14].
The companies now part of the Kingfisher group are:
- B&Q; operations in the UK, Ireland and China,
- Brico Dépôt; in France, Spain and Poland.
- Castorama; in France, Poland and Russia.
- Hornbach DIY; with over 120 stores across Europe; Kingfisher holds a 21% stake.
- Koçtaş; in Turkey.
- Screwfix; 149 branches in the UK, plus mail and internet ordering[15].
See also
References
- ^ a b c Preliminary Results 2010
- ^ About us
- ^ a b c Kingfisher History
- ^ Kingfisher continues sponsorship
- ^ French turn eyes to International Arena
- ^ Kingfisher takes stake in French retailer
- ^ Kingfisher builds position in Germany
- ^ Wal-Mart buys Asda in UK retail shock
- ^ Kingfisher swoops for Castorama
- ^ Kingfisher springs demerger surprise
- ^ Kesa Chief's pay will double after split
- ^ a b The Retail Bulletin
- ^ New man in B&Q hot seat
- ^ Kingfisher: Company overview
- ^ Kingfisher: Screwfix brand page
External links
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