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Publication Date: 31 Oct 2018 - By Robert P. By Robert P.Equity Fundamental Equity UK Consumer
Howdens Joinery Group is a UK kitchen wholesaler and distributor.
• Howdens Joinery is the UK’s largest manufacturer and supplier of fitted kitchens, appliances and joinery products. The company sells over 400,000 kitchens per year and has over 6,000 kitchen related SKUs.
• It operates 653 depots in the UK that sell to small builders and contractors. The company has minimal exposure to Europe with 24 depots on the continent.
• Each depot is set up more as a warehouse. Locations average around 10,000 square feet with approximately 90% of the space used to store inventory and only 10% for selling.
• Howdens Joinery has a unique business proposition targeting tradesman and builders. The company does not sell direct to the consumer. Howdens Joinery states this allows them to operate with a much lighter asset model.
• Howdens Joinery uniquely ties the financial outcomes of the depots to local management. The company gives each depot manager a cut of profits.
Source: VR Fundamental
Pages: 33
Released: 31 Oct 2018
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