Kingfisher shares up as group sets up B&Q investment

<p>Kingfisher shares have increased as the company prepares to invest in B&Q.</p>

Shares in Kingfisher have increased on the London Stock Exchange (LSE) this morning (October 16th), as the DIY retailing group plans to pump £60 million into its B&Q chain.

This is a shrewd business move for Kingfisher, as it aims to improve B&Q's online offering by doubling the number of products available via the web to 20,000 and introduce new services to customers.

The company will use Screwfix – a tools and electrical equipment supplier – as a model for improving B&Q's ecommerce platform.

Furthermore, Kingfisher is looking to take the Screwfix multi-channel system into overseas markets – further enhancing the company's outlook.

Chief operating officer at Kingfisher Euan Sutherland stated: "The Screwfix model's quite unique and I don't see it replicated anywhere else in Europe, so there's potential to take it out there."

At 11:45 BST, Kingfisher's shares rose 1.2 per cent on the LSE to 279.30p per share.

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