News roundup--Ironmongery Direct, Kingfisher, Furniture Village

Ironmongery Direct, an online and mail order supplier of ironmongery products, delivered a 20 percent sales growth and 25 percent increase in profits in 2011. Marking its seventh year of consecutive growth, turnover hit £15 million, up 20 percent on 2010. EBITDA grew to £1.25 million, a 25 percent increase on 2010. Last year saw the business invest at least £2.5 million in its infrastructure. It moved to new premises and implemented new SAP business management software. For 2012, Ironmongery Direct has set a target of 35 percent growth, reaching £20 million turnover.

As part of an organisational restructure to become a more "unified" retailer, Euan Sutherland, currently the chief executive of Kingfisher UK & Ireland, is moving to the role of Kingfisher chief operating officer. He will assume responsibility for IT, property and human resources but retain responsibility for the Screwfix business. Kevin O'Byrne, currently group finance director, becomes Kingfisher divisional chief executive for B&Q. His remit includes the B&Q business in the UK and China as well as the B&Q joint venture in Turkey and the alliance with Hornbach in Germany. Under this new structure, the role of chief executive Kingfisher international will no longer exist, which will see Peter Hogsted leave the business later in the year. Releasing its fourth quarter results today, Kingfisher UK & Ireland reported a 1.5 percent increase in sales in 13 weeks to 28th January 2012, to £968 million. B&Q total sales were broadly flat at £837 million, but down 2.5 percent on a like-for-like basis. Screwfix total sales grew 10.3 percent to £131 million boosted by new ranges, the addition of specialist trade desks exclusive to plumbers and electricians within existing outlets, and the continued rollout of new outlets.

Jersey-based online retailer Indigo Starfish may be letting hundreds of its employees go, reports the BBC. Staff at the business have been warned they could lose their jobs at the end of March as a result of the government's decision to scrap low-value consignment relief (LVCR).

Furniture Village has launched an online lifestyle magazine, featuring editorial content such as practical guides, design trends, masterclass videos, and “10 best” features written by its buying team and edited by online marketing exec Amanda Sanders. In addition, FV Magazine will include exclusive recipes by food writer and TV cook Jo Pratt; sleep advice from GP and TV broadcaster Dr Hilary Jones and styling tips from interiors stylist and journalist Diana Civil.

The Institute of Direct and Digital Marketing (IDM) has announced that Professor Derek Holder, cofounder and managing director of the Institute, passed away on 14th February 2012. In a statement, the IDM's trustees and directors said Professor Holder's "encyclopaedic knowledge of marketing, his incisive business acumen and sense of humour will be sorely missed by all those in the profession".