B&Q Owner Kingfisher Rises After Second Straight Outlook Hike
Kingfisher's like-for-like sales in the UK and Ireland rose 3% in the third quarter.
Photographer: Chris Ratcliffe/Bloomberg
Kingfisher Plc shares climbed after the home improvement retailer raised its full-year profit guidance for the second straight quarter, as households increasingly spent on home renovation projects.
Shares rose as much as 6.9% in early trading after the company pointed to progress in its strategic initiatives and cost and margin discipline, as well as an improvement in big-ticket items. The closure of Homebase stores, after Kingfisher’s rival entered administration last year, also contributed.