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Trading at Wickes continues in line with expectations, says Travis Perkins

Published: 22 October 2007
Price competition hits margins but Wickes says it is confident of market share gains.
Trading at Wickes continues in line with expectations, says Travis Perkins
In a trading statement, owners Travis Perkins said total turnover for the 39-week trading period ended on September 29 was up by 8.5%.

For the period, like-for-like sales per trading day were up by 5.7% with core products up by 8.1% although showroom sales were lower by 6.4%.

Gross margins were slightly below the comparable period in 2006, mainly reflecting, the statement read, continued price competition in key value lines.

In the period, three new Wickes stores were added, increasing Wickes' selling space by 5.6%.

In addition to the openings, Travis Perkins said it had recently entered into contracts to acquire a further seven new retail outlets, which are expected to open before Easter 2008.

Management pointed to the resilience of the business to weather any downturn "through programmes designed to continue gains in both like-for-like and total market share".

It continued: "With these, and our traditional strengths of cost vigilance and tight cash management, we are confident of making further progress in 2008 and beyond."

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