In Finland the third quarter of the building and home improvement trade continued to develop positively, with growth reaching 2.5%. The cumulative growth for the first half of the year stands at 6%.
Data from the Finnish DIY Retail Association RASI ry has shown that the soaring growth rates of spring and summer have now leveled off, but growth is continuing.
Minna Liuksiala, CEO of RASI ry, said “The growth of consumer sales and, on the other hand, the slowdown in the growth of professional sales can be seen more and more clearly. The slowdown in new construction has been predicted for a year by a sharp decline in the number of building permits. On the consumer trade side, the largest increase in late summer and early autumn, still over ten percent, was achieved in yard and garden products as well as tools and supplies that consumers use for independent renovation.”
The North American Retail Hardware Association (NRHA) is officially broadening the reach of its membership to include independent paint and decorating store operators and will be changing the association’s name to reflect this evolution.
Effective immediately, the association will be known as the North American Hardware and Paint Association (NHPA) and will represent the interests of all independently operated hardware stores, home centers, lumberyards and paint and decorating outlets throughout North America.
“Independent hardware stores and home centers share so much common DNA with independent paint and decorating retailers that this expansion of our membership can only benefit the industry as a whole,” says NRHA president and CEO Bob Cutter. “We are excited to offer paint and decorating retailers an expanded breadth of resources, and we look forward to combining all of their ideas and insights with the already strong pool of retail thought leaders from the hardware side of the channel.”
This broadened member base will help independent retailers from across the home improvement spectrum as NHPA can now tap into a wider network of retailers for research, best practices, success stories and more.
Kingfisher have released their half year results for the six months ended 31 July 2020.
The results demonstrate a resilient performance in H1 with strong sales recovery in Q2 as well as a stronger demand for home improvement across their markets. However, sales were down 1.1% in constant currency, reflecting adverse impact of COVID-19 in Q1 being partially offset by strong recovery in Q2.
In its home market in Great Britain and in Ireland the DIY retailer increased sales by 3.7 per cent (like-for-like: 2.4 per cent) to GBP 2.753 bn (EUR 3.002 bn). Furthermore, E-commerce sales at Kingfisher are up 164%; now representing 19% of total Group sales in comparison with 7% last year.
Chief Executive Officer, Thierry Garnier, said: “We delivered a resilient financial performance in the first half of the year, with the adverse impact of COVID-19 in Q1 offset by a strong recovery in Q2. This recovery has continued into Q3 to date, with growth across all banners and categories.” He continued “The crisis has prompted more people to rediscover their homes and find pleasure in making them better.”