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Online sales and DIY drive returns Kingfisher to profit

By Peter Walker

22/09/20

A combination of strong online sales and a trend towards lockdown DIY projects has caused profits to rise this year for the Kingfisher Group. The owner of B&Q and Screwfix in the UK stated that during the six months to 31 July, statutory pre-tax profits were up 62.4 per cent to £398 million, while adjusted pre-tax profits rose 23.1 per cent to £415 million.

London Designer Outlet has selected Coniq to develop a new customer engagement and loyalty platform. Opened in 2013 as the capital’s first outlet centre, just next to Wembley Stadium, the location attracts more than seven million visitors a year.

Walmart buys 7.5% share in new TikTok US entity

Walmart will buy a 7.5 per cent stake in TikTok as part of a deal to maintain the social media company's US presence with the blessing of the president. The supermarket giant will invest alongside Oracle to collectively take a 20 per cent stake in a new company called TikTok Global, with Chinese parent company ByteDance still owning a majority share.

Supermarkets warn of ‘second wave’ panic buying

Ocado, Tesco and Sainsbury’s have all warned that delivery slots are in increasingly high demand as fears of second lockdown drives panic buying. Ocado told customers that delivery slots were “selling out faster than usual”, advising them to use the “next three days button to see available slots further in advance”.

In-vehicle payment spend to exceed $86bn in 2025

The value of in-vehicle payments will reach $86 billion in 2025, up from just $543 million in 2020. The latest market analysis from Juniper Research stated that this growth will be driven by increased partnerships which are improving the availability of services, particularly in the fuel and smart parking segments.

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Check out our latest features

Fast fashion falls out of favour

The ethics of retailer supply chains has been called into question recently, with brands now rushing to implement technology that gives better visibility into how products are made, sourced and shipped. The scandal that brought the issue into focus most recently was a report in July on Boohoo’s UK supply chain that had a significant impact on the company’s share price and reputation.

Delivery sector reacts to lockdown demand

One fairly predictable consequence of the Coronavirus lockdown has been a marked increase in the amount of online shopping – but how is the delivery and logistics sector dealing with the spike in demand this has caused?

Cashierless store trials struggle with security

Cashierless shopping trials are currently underway with a range of retailers across the US and Europe, but concerns around shop security could hold back the roll-out of the technology. In the last 12 months, the Co-Operative and Sainsbury’s supermarkets in the UK have run in-store pilot schemes, while Europe’s largest consumer electronics retailer MediaMarktSaturn recently deployed MishiPay’s mobile self-checkout solution in the world’s biggest electronics store in Hamburg.

Should ailing retailers dump stores post-COVID?

With High Street clothing and footwear retailers among the hardest hit by the Coronavirus lockdown, some are suggesting that those going under would be better to re-emerge as online-only brands.

Coronavirus-hit grocers struggle with supply chain modelling

The Coronavirus crisis has hit many industries hard, but those grocers expected to keep the nation fed and watered have been criticised in recent weeks for not being able to handle the surge in demand. The self-isolation advice and eventual lockdown across the UK has led people to stockpile certain key items, putting a serious strain on ‘just in time’ replenishment models not prepared for such spikes in sales – especially while dealing with staff shortages that cut available manpower by as much as a quarter.

Retailers use tech to meet sustainability demands

Sustainability and the environment have shot up the business agenda recently, as consumers have become more demanding of the companies they deal with; with retailers increasingly implementing technology to help them meet those demands.

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Why the High Street needs a digital upgrade

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