B&Q chief executive joins Netto

B&Q chief executive Michael Loeve is to become executive vice president of Netto International.

Michael Loeve
Michael Loeve

Jean-Paul Constant, the chief sales and retail operations officer of B&Q’s parent company Kingfisher, will also take on additional responsibilities and work alongside Loeve until he leaves.

Loeve, a Dane, helped lead the One Kingfisher transformation plan. He will be in charge of Netto in Denmark, Germany, Poland and Sweden. He joined B&Q in 2015, replacing Kevin O'Byrne.

Kingfisher chairman Daniel Bernard will also leave in June.

In March, Underlying pre-tax profits of £787m for the year to January 31 were up from £686m a year earlier, after seeing B&Q like-for-like sales lift by 3.5 per cent.

B&Q total sales declined by 3.3% to £3,680 million reflecting planned store closures partly offset by sales transference. 

Like-for-like sales increased by 3.5% of which 2.6% resulted from sales transference associated with the store closures. LFL sales of seasonal products were up 3.1% while sales of non-seasonal products, including showroom, were up 3.6%.


Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Sign up now
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Read These Next

What new vegetables will gardeners be growing in 2018?

What new vegetables will gardeners be growing in 2018?

Next year is Fleuroselect year of the chilli pepper and Thompson & Morgan and Mr Fothergill's have ranges around the hot vegetable, with a new way of promoting sales.

Garden centre building: what's going up?

Garden centre building: what's going up?

After a lull in new builds, 2018 could see a slight resurgence in garden centres being erected.

Retail seed: crowded market for 2018

Retail seed: crowded market for 2018

Thompson & Morgan is refocusing on the garden centre seed market, hoping to win back business from Mr Fothergill's, which has expanded during T&M's long sale process.


Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +
Horticulture Jobs
More Horticulture Jobs

Horticulture Week Top 100 GARDEN CENTRES

Our exclusive ranking of garden centre performance by annual turnover. 

Garden Centre Prices

Peter Seabrook

Inspiration and insight from travels around the horticultural world
 

Read more Peter Seabrook articles

Neville Stein

Business advice from Neville Stein, MD of business consultancy Ovation
 

Read latest articles