Following an in-depth review of Kingfisher’s businesses alongside in-depth studies of our customers’ home improvement needs, the leadership team announced the ONE Kingfisher plan. This plan will leverage the scale of the business by creating a unified company, where customer needs always come first.
In March 2015 we announced a set of first ‘sharp’ decisions, against which excellent progress has been made. In addition, the detail of the new ONE Kingfisher strategy was developed, with the focus over the next five years based on three key pillars - creating a unified, unique and leading home improvement offer; driving our digital capability; and optimising our operational efficiency.
In January 2016, we explained the detail of this five year transformation plan and gave clear long-term financial targets, and strategic milestones for the first year (FY 2016/17). This five year transformation plan aims to deliver £500 million of sustainable annual profit uplift by year five, over and above ‘business as usual’. By this we mean that without the transformation we would expect performance to be broadly in line with the macroeconomic backdrop in our respective markets. Until we have unified our customer offer, we will have limited expansion, the focus of which, in the medium-term, will be Screwfix UK and Europe.
You can read more about how we are going to do this in the following sections ‐