The British group Kingfisher, the owner of Brico Dépôt, reduced its losses by 40%, in 2020, in Romania, to 14 million pounds, while the sales increased by 11.8% to 242 million pounds, News reports .com
The British group operates 35 stores in Romania and has 2,200 employees.
“In Romania, sales increased by 11.8% (+ 10.8% increase in sales in comparable terms), reaching 242 million pounds, determined by a growing demand for all product categories and throughout year, following the successful rebranding of the former Praktiker stores in Brico Dépôt. Thus, the Brico Dépôt business reduced its losses by approximately 40% to 14 million pounds (in the fiscal year 19/20 the reported losses were 23 million pounds), favored results and lower operating costs “, announces the group.
Representatives of the group say 2020 has been a year of exceptional challenges.
“The current growth outlook remains positive and, although year-round visibility remains limited, we are confident in the performance of our markets as a whole. The COVID crisis has fostered new trends, which certainly support the industry we belong to – more time working from home, paying more attention to the house transformed into a “hub” and the development of a new generation of DIY enthusiasts – and which we expect that they will not change in the near future. With our strategic progress, we have a favorable position to capitalize on these new and positive market trends, ”said Thierry Garnier, Chief Executive Officer at Kingfisher.
Kingfisher plc is an international home improvement company with approximately 1,350 stores in 8 European countries. The main brands under which Kingfisher operates are B&Q, Castorama, Brico Depôt, Screwfix, Tradepoint and Koçtaş, supported by a team of 74,000 employees.
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