Kingfisher sees share price slump
2 April 2012
Firms on the brink of investing in e-commerce systems may now think twice after retail group Kingfisher’s shares tumbled following an announcement that it was doubling its spend in e-commerce.
Unveiling the company’s Christmas trading figures earlier this month, chief executive Sir Geoffrey Mulcahy was upbeat. He said a 33 per cent growth in sales across the group justified the £21 million investment.
But the figure suprised the stock market and analysts blamed the announcement for a slump in Kingfisher’s share price, by more than 14 per cent, from...