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Interim results for the 26 weeks ended 30 July 2011


15 September 2011


'Delivering Value' progress

Progress to date (Feb 2011 to July 2011) and milestones for the remainder of the year

1. Driving up B&Q UK & Ireland's profit

Self-help measures to rebuild B&Q's retail margin continued to deliver results. B&Q remains on track to achieve a sustainable 7% operating margin.

2011/12 first half progress

  • Stores
    • Revamped 4 large stores
    • 1 'showroom only' revamp (kitchen, bathroom and bedroom areas)
    • Acquired and processed regulatory approval on 29 leasehold stores from the administrator of Focus DIY
  • Product and Service
    • Rolled out a new storage range nationally
    • Established 'You can do it' DIY centres in 15 large stores, delivering classes to 10,000 customers
    • Created around 16 new 'how to' videos available in-store, on diy.com and YouTube.com, taking the total to 50
    • Introduced a national van hire service (in partnership with Hertz) to make it easier for customers to take away large purchases themselves
  • Margin and Costs
    • Direct sourced shipments continued to provide gross margin benefit
    • Costs as a percentage of sales held flat reflecting tight controls

2011/12 second half milestones

  • Stores
    • Revamp 2 large stores and relocate one medium store(1)
    • 2 'showroom only' revamps (kitchen, bathroom and bedroom areas)(1)
    • Reopen 28 acquired ex-Focus DIY stores in the B&Q format
  • Product and Service
    • Open 'You can do it' DIY centres in a further 19 large stores
    • Create a further 40 'how to' videos available in-store and on diy.com and Youtube.com
  • Margin and Costs
    • Open new distribution centre in Swindon (as part of the supply chain efficiency project previously announced)

(1) Store revamp milestones announced in March 2011 now adjusted as priority being given to the H2 revamp of ex-Focus DIY stores