Our progress

 

The second year of our five year transformation plan has been another year of good progress. We have delivered the key strategic milestones for the second year.

“The past year has seen a major step-up in the level of our transformation activity. The teams have worked hard to deliver on each of the three strategic pillars that make up the ONE Kingfisher plan”

Véronique Laury, Chief Executive Officer

Véronique Laury, Chief Executive Officer

To find out more, download the
CEO's statement from our
2017/17 Annual Report & Accounts

Unique & unified

  • 23% unified product (COGS*)
  • Sales up, outperforming non-unified
  • Gross margins up 180bps (pre clearance)

Digital

  • Over 50% of Group sales now operating on unified IT platform; entering final year of
  • Group digital sales now at 6% (4% last year)

Operational efficiency

  • GNFR* is delivering - £58m to date
  • Further operational efficiencies starting to be unlocked e.g. shared services

*COGS = cost of goods sold, GNFR = goods not for resale

For more detailed information see pages 22 to 25 of the 2017/18 Annual Report & Accounts, download our 2017/18 Annual Report & Accounts and our Results infographic

Our strategic milestones for year 3

The third year (full year 2018/19) of our plan represents another year of significant implementation. The strategic milestones for 2018/19 are set out below.

Unique & unified

  • Deliver growth in unified & unique sales and gross margin
  • Unify 40% of product sales (COGS)

Digital

  • Complete final year of unified IT platform roll out to Operating Companies
  • Complete ecommerce roll out in France and Poland
  • Market launch of first home improvement services in the UK and France

Operational efficiency

  • Implement finance shared services in at least two Operating Companies
  • Deliver £30 million benefits (from unified GNFR programme and other efficiencies)

*COGS = cost of goods sold, GNFR = goods not for resale

Retail operations

Maintain higher colleague engagement scores than retail sector

Read more about our progress against our strategic milestones in Year 2 2017/18 Annual Report & Accounts

CASE STUDIES - OUR STRATEGY IN ACTION