UK-based Toolstation has reported a 4.6 per cent year-on-year drop in sales in H1 2022. While 2022's first-half revenue was GBP 376 mio. (about EUR 448 mio.), the 2021 figure was GBP 394 mio. (about EUR 470 mio.). This is according to figures published yesterday by the parent company Travis Perkins. Like-for-like growth fell to minus 10.6 per cent in 2022, after a high growth of 29.8 per cent in 2021.
According to the company, Toolstation’s customer base has normalised back to its core trade customers during the period since the lifting of key pandemic restrictions in May 2021. In the last 24 months, 140 new branches of Toolstation have opened in the UK. 20 branches were opened in the first half, with one “implant” closed. A similar number of new store openings is expected in the second half of the year with the medium-term rollout plan to reach a network of 650 branches remaining on track.