Kingfisher plan on track

It appears Veronique Laury's plan to overhaul retail giant Kingfisher (KGF) is off and away. Fourteen B&Q stores have already closed their doors (Ms Laury previously outlined plans to cut 60 B&Q outlets from the estate) and the group has sold its 70 per cent controlling stake in B&Q China to the tune of £140m in sale proceeds. That cash is likely to find its way back to shareholders. Around £88m has been returned via a share buy-back since January, making up part of the £200m already promised to investors during the 2015-16 financial year.