Retail in Asia

In Sectors

Cost cuts help Kingfisher lift profit hopes

Kingfisher, the world’s third biggest home improvements retailer behind US groups Lowe’s Cos and industry leader Home Depot, said like-for-like sales in China jumped 29.2 percent in the fourth quarter.

That reversed a big fall in the same period the year before and could raise hopes a radical restructuring of the business there, which has included closing shops and trialling new store formats, could return it to profitability after heavy losses.