Has the DIY bubble burst?
17th August 2017
Kingfisher's DIY chain, B&Q, saw sales fall 7.7 per cent to £967 million in the second quarter to July 31.
The Kingfisher Group's like for like sales during the quarter were £3.1 billion, a fall of 1.9 per cent.
Véronique Laury, Kingfisher chief executive officer, said: "Q2 has broadly followed a similar course to Q1 although B&Q's performance was impacted by seasonal swings.
"We have also continued to experience some disruption across the businesses, although on an improving trend. Availability of this year's unified and unique product is now approaching normal levels. We continue to adapt new processes as our transformation progresses, which will support the significant amount of change planned for H2."
The decline in sales at B&Q, which has one of its biggest stores in Gloucester, was blamed on the poor weather.
But it also prompts the question: is the UK's love affair with DIY finally over? After countless failed attempts to do it ourselves are we turning back to the skilled craftsmen and women who really know what they are doing?
Only time will tell but many may now have come to the conclusion that it is often better to spend a bit more and get the job done properly.
Picture credit: Pixabay
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