Kingfisher PLC
8 February 2001
PRESS RELEASE
8 February 2001
Kingfisher plc to Accelerate Big W Expansion
Kingfisher plc has today announced that it is to accelerate the expansion of
its Big W out-of-town superstore concept following continued strong growth
including a successful Christmas trading period, which saw two outlets in
Coventry and Edinburgh become the first stores in the Kingfisher Group to make
weekly sales of over £1 million.
The Big W superstore format is part of Kingfisher's General Merchandise sector
which, as the company announced in September 2000, is to be separated from its
DIY and Electrical Retailing sectors in second quarter 2001.
Already the largest player in the £50 billion a year general merchandise
market with its Woolworths, MVC and Superdrug chains, Kingfisher sees the
success of Big W as key to its General Merchandise sector extending its
leading position in a market which is expected to grow by 5% every year for
the foreseeable future.
With eight Big Ws currently operating in the UK, the company now plans to open
these purpose-built 85,000 square feet stores at a rate of one every month for
the foreseeable future. The company aims to operate at least 60 outlets by
2005, creating over 15,000 jobs.
Commenting on the expansion plans, Kingfisher Chief Executive Sir Geoffrey
Mulcahy, said: 'Big W has brought a major new dynamic to the general
merchandise market and its success to date has surpassed our most optimistic
expectations.
'Customer feedback to the Big W concept has been overwhelmingly positive. Each
of these stores now serve over a million customers a year and have annual
sales of over £15 million.
'By accelerating the roll-out of these massive outlets and providing customers
with even more choice in store through the introduction of new ranges such as
jewellery and accessories, car care goods and sports products, we believe that
Big W will become a major driver of the separated business and will
significantly strengthen its leading position within the UK's general
merchandise market'.
-ends-
Notes to Editors
* The Big W superstore concept brings together products from many
Kingfisher brands including Woolworths, Superdrug, B&Q, BUT and Comet as
well as offering a selection of low cost but fashionable and good quality
clothing
* Big Ws are massive 85,000 square feet out-of-town superstores, each of
which attracts over a million customers a year, employs around 250 people
and generates sales in the region of £15 million annually
* There are currently 8 Big Ws in Bristol, Edinburgh, Coventry, Rotherham,
Stockton, Glasgow, Bradford and Redruth
For further information:
Media Enquiries:
John Eyre +44 (0)20 7725 5714
Jonathan Miller +44 (0)20 7725 5713
Gail Lavielle (France) +33 (0) 1 43 18 52 68
Broker and Institutional Enquiries:
Andrew Mills +44 (0)20 7725 5776
Ian Harding +44 (0)20 7725 4889
Graham Fairbank (France) +33 (0)1 43 18 52 226
Kingfisher plc +44 (0)20 7724 7749
Kingfisher Website www.kingfisher.co.uk
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