Posted in home improvement storest

Kingfisher PLC profits go through the roof as COVID lockdown leads to home improvement boom

eCommerce sales represented 19% of group sales in the half-year compared to 7% a year earlier

() saw its profits and cash flow go through the ceiling in the first half of the year as demand for home improvement took off during the coronavirus (COVID-19)  lockdown.  

But while the group’s directors plan to repay UK furlough payments back to the government, provided another prolonged national lockdown is not forthcoming, there is no plan of reinstating the dividend yet. 

The DIY stores chain saw group sales fall by 1.3% to £5.9bn in the six months ended July 31, 2020, as like-for-like sales (LFL) dropped 1.6%, with growth at B&Q in the UK, along with the Poland and Romania businesses offset by declines in the UK’s Screwfix, both French chains, Russia, Spain and Portugal.

The second quarter from May onwards saw LFL sales rise 19.5%, with growth in all the group’s areas

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Posted in home

Polish retailers seek profits closer to home as coronavirus bites

By Anna Koper and Michael Kahn

WARSAW/PRAGUE (Reuters) – Poland’s big clothing and footwear retailers LPP <LPPP.WA> and CCC <CCCP.WA> are switching focus back to eastern Europe, sizing opportunities to add brick-and-mortar stores as international rivals concentrate on online sales during the pandemic.

LPP – eastern Europe’s answer to H&M <HMb.ST> and Inditex’s <ITX.MC> Zara – has expressed ambitions to emulate its two rivals as a top five global fashion brand.

Those plans have stalled as the pandemic has hit consumer spending, but with eastern Europe weathering the crisis better than Western economies, the retailer sees better prospects in its home region.

“Our approach to expansion has changed due to the epidemic,” LPP’s Deputy Chief Executive Przemyslaw Lutkiewicz told Reuters. “We hope that from the next year we will return to the expansion of new stores, but mainly in the eastern markets.”

LPP’s push comes as some big Western brands

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Posted in home repair

Home Flipping Declines But Profits Rebound Across U.S. In Second Quarter Of 2020

Home Flipping Rate Down From First Quarter of 2020; Typical Investment Return Rises to Highest Level Since Late 2018; Percent of Flips Financed With Cash Dips But Remains High

IRVINE, Calif., Sept. 17, 2020 /PRNewswire/ — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its second-quarter 2020 U.S. Home Flipping Report showing that 53,621 single-family homes and condominiums in the United States were flipped in the second quarter. Those transactions represented 6.7 percent of all home sales in the second quarter of 2020, or one in 15 transactions. That figure was down from 7.5 percent of all home sales in the nation during the prior quarter, or one in 13, but up from 6.1 percent, or one in 17 sales, in the second quarter of last year.

ATTOM Data Solutions (PRNewsfoto/ATTOM Data Solutions)
ATTOM Data Solutions (PRNewsfoto/ATTOM Data Solutions)

U.S. Home Flipping Trends

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Posted in home improvement loans

Home Flipping Declines But Profits Rebound Across U.S. In Second Quarter Of 2020 | Nachricht

IRVINE, Calif., Sept. 17, 2020 /PRNewswire/ — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released its second-quarter 2020 U.S. Home Flipping Report showing that 53,621 single-family homes and condominiums in the United States were flipped in the second quarter. Those transactions represented 6.7 percent of all home sales in the second quarter of 2020, or one in 15 transactions. That figure was down from 7.5 percent of all home sales in the nation during the prior quarter, or one in 13, but up from 6.1 percent, or one in 17 sales, in the second quarter of last year.

ATTOM Data Solutions (PRNewsfoto/ATTOM Data Solutions)

U.S. Home Flipping Trends Chart

While the home-flipping rate dropped from the first to the second quarter, both profits and profit margins rose. The gross profit on the typical home flip nationwide (the difference between the median sales price

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Posted in home

Home Depot co-founder Arthur Blank on corporate profits, social change

Billionaire businessman Arthur Blank told CNBC on Monday that businesses must care about more than just profitability, suggesting social responsibility should also be an area of emphasis.  

“If you don’t care about people, profit and the planet at the same time, profitability by itself isn’t really enough,” Blank said on “Power Lunch.” “And the truth of the matter is, you can have them both, and I think we should have them both.”

Blank, who co-founded The Home Depot in 1978, is now owner of the NFL’s Atlanta Falcons and Atlanta United of Major League Soccer. His comments Monday came one day before the release of his book, “Good Company,” which details his business career and his views on corporate strategy. 

The remarks also come shortly after the 50th anniversary of the publication of economist Milton Friedman’s seminal essay, “The Social Responsibility of Business is to Increase its Profits.” In recent

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