(ShareCast News) - Better late than never. Roughly eleven years after the peak in the "do it yourself" market in the UK, Kingfisher's B&Q has taken the axe to its bloated estate (rival Homebase has called a halt to its expansion as well). The chain has 20% more space than in 2004 yet annual sales are about the same as then, coming in at just under £4bn. It will pay dearly for those store closures. The £350m cost equates to three-fifths of last year's after tax profits.The company is also shifting towards more standardised products to boost productivity. Some of the 'lost' sales will also migrate towards its remaining outlets. It will take time for these initiatives to feed-through into the bottom line. Yet the timing is not bad given the recovery in housing. "In store retailing in general investors should run for it when store productivity falls. UK supermarkets, take note," says the Financial Times's Lex column. Kingfisher new executive Veronique Laury's plans for the company seem to go in the right direction. Cut down on the burdensome range of products across the group, close loss-making outfits in Europe and about another 60 B&Qs in the UK. Given the trend towards digitalisation the number of stores on the High Street is obviously far too high. The successful Screwfix German operations also merit more resources.The market has not been too receptive, but the firm's latest halfway figures revealed a 2% rise in constant currency like-for-like sales. Likewise, it should come as no surprise that its French stores did poorly. Yet the dividend was up - indicating a degree of confidence. Sales in the UK market put in a good showing and Screwfix blew the doors away with a 16.5% rise in like-for-like sales. Nonetheless, the share are up well since the autumn and trade on 16 times profits for the year to January. More information on the boss's plans will be forthcoming at a capital markets day early next year. "No hurry to buy until more details become clear, though. Avoid for now," says The Times's Tempus.