Kingfisher optimistic

Jun 1 2009 by Linzi Nicholson, Huddersfield Daily Examiner

A NOTE of optimism is expected from B&Q owner Kingfisher as the home improvement giant gives an update on trading this week.

Kingfisher, which saw a 19% slump in profits at its UK DIY chain last year, has recently unveiled plans to spruce up its own offering as it looks to diversify and boost its performance.

B&Q is to launch a range of home furniture online as part of a wider £18m revamp of its ranges.

The move, which also involves the expansion of its bedroom range and the launch of new home appliances in-store, will put the firm in direct competition with the likes of Argos and Ikea.

Kingfisher wants to take advantage of the consumer trend for “improving rather than moving” in the recession, while the demise of shops such as kitchen and furniture group MFI is also likely to have created opportunities.