Headlam Updates On Transformation Plan

Headlam (LSE: HEAD), the UK's leading floor coverings distributor, provides the following update on its transformation plan to return the Group to profitability. 

The highlights of our action plan are:

• Refocus on independent retailers and contractors, whilst eliminating loss-making revenue
  
  
• Consolidating our purchases and leveraging our scale as UK and Europe's largest purchaser of flooring
  
  
• Reduce footprint further reflecting revised business model
  
  
• Improve stock turn
  
  
• Reduce SKUs

The Board believes that delivering successfully upon these actions will return the Group to profitability and provide a sustainable financial position.

The key action plan outcomes include:

• A return to profitability in 2027
  
  
• Surplus properties disposed
  
  
• Materially lower inventory

Click here to view the presentation associated with the action plan.

Source : Headlam Group plc 

Image : Headlam Group plc

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.