Kingfisher To Move Into European Cities With Smaller Stores - Reuters

21st Jun 2010 00:24

DOW JONES NEWSWIRES Kingfisher PLC (KGF.LN) Chief Executive Ian Cheshire said his home improvements retail chain will expand into European cities with smaller stores, Reuters reported Tuesday. The company is already experimenting with the concept in France and Russia, and is likely to bring the same concept to U.K. chain B&Q, Cheshire said, according to Reuters. Cheshire, speaking at a retail conference, also said China's announcement to allow its currency to appreciate against the dollar would take place at a government-dictated pace. He and other top Western executives welcomed the move which would allow more purchasing power for the Chinese consumer, Reuters said. "I can't see any way for the yuan other than up, but I think the pace at which it will happen will be quite carefully modulated by the Chinese government," said Cheshire, according to another report seen on the Reuters website. Full story: http://www.reuters.com/article/idUSTRE65K38J20100621 (END) Dow Jones Newswires June 21, 2010 19:24 ET (23:24 GMT)