DIY Week.net
Essential reading for retailers and suppliers in the home improvement market
DIY Week Awards 2012
Check out the winners


News

Published on 14 - December - 2010
 
Wickes' sales boosted, as shoppers rush to beat VAT hike
Despite drop in sales of core products, Travis Perkins-owned DIY chain sees turnover jump 4.2% in last eight weeks of trading period, as consumers bring purchases forward.

Wickes reported a 2.7% increase in total turnover for the 47-week trading period to November 27. During this period like-for-like (lfl) turnover per trading day was up 0.6%, with core products down 2.1%. Kitchen and bathroom sales gave a much stronger performance, up 12.5%.

However, the last eight weeks of the reported trading period saw lfl turnover per trading day jump 4.2%, with, said Travis Perkins, "evidence of buying ahead of the VAT increase". A number of retailers, including B&Q and Tile Depot, have brought January sales forward this year in order to make the most of this trend.

Gross margins at Wickes for the second half of the year are also said to be ahead of last year, continuing the trend of the first six months. However, Travis Perkins believes the snow earlier this month could hit trading figures.

The group's latest trading update explained: "Whilst the most recent two months' trading has seen a continuation of both satisfactory growth and market share gains, the exceptionally poor weather at the beginning of December is expected to have some impact on our sales trends and financial performance for the last month of the year."

Group trading for Travis Perkins, including its merchanting division, was up 6.5% for the eleven months to the end of November, compared with the same period in 2009. Total turnover in the merchanting division was up 8.3% for the period, with lfl turnover per trading day up 7.8%.


Comment Leave a comment Email Send to a friend   Print Printable version   Print Link to this story

Make a comment?
Your name
Subject

Inform me of responses to this comment

This Is CAPTCHA Image
Enter number above (anti-spam)



DIYWeek.net does not edit comments which are submitted directly by our users to express their own views. Please report abuse of our comment system here.




© Datateam Business Media Limited 2010. DIY Week.net news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.


Click here to receive the diyweek.net weekly newsletter


Datateam Business Media Limited
15A London Road, Maidstone, Kent ME16 8LY. United Kingdom
T: +44 (0)1622 687031
F: +44 (0)1622 687031

Cookies
We use cookies to make this site as useful as possible. They are small text files we put in your browser to track and assist usage of our site but, with the exception of cookies that help you log in, they don't tell us who you are.
You can control cookies in your browser settings. If you use our site it implies that you consent to our cookie usage. To find out more about how we use cookies and how you can control them, click here to see our cookie policy.