Kingfisher has been the worst blue chip performer after a gloomy outlook statement from Next and a profit warning from DSG International – the owner of Currys – today sent shares in the retail sector into a tailspin.
The TIMESONLINE website reported that the B&Q parent company saw 7% shaved off this morning's opening share price to leave it at a record low of 136.5p.
The Home Retail Group - owner of Homebase and Argos - lost 6.6% to 299p.
Next, which last year opened two housewares-only stores in the UK - reported a like-for-like fall in sales of 3.2% in the second half and warned that it did not expect a return to sales growth in 2008.
It said it expected many customers to feel the pressure from the expiry of fixed rates on their mortgages.