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Wickes is trading in line with expectations

Published: 16 May 2007
Chairman of Travis Perkins Tim Stevenson told his latest agm that the diy business continues to trade in line with its expectations.
Total turnover for the 17-week trading period, ending April 28, 2007, was up 13.2%. For this period, like-for-like sales per trading day were up by 8.7%, with core products up 11.5% and showroom sales lower by 4.0%, he said.

According to the parent company, the retailing business has grown market share although gross margins fell below expectations, and against the comparable period in 2006.

Travis Perkins said this reflects a change in product mix, weaker showroom sales and price competition in key lines.

Since the end of 2006, two new Wickes stores have been added.

Earlier this year it hired direct marketing agency Flourish to generate a campaign targeting 'warm diy and trade' customers. The Bristol-based company also promotes Wickes' showroom range to consumers.

Mr Stevenson expects good trading conditions to persist for the remainder of the first year, although he is conscious of market indicators such as the housing market, and increasing interest rates pointing to a slowing rate of improvement in the second half.

Group turnover to the end of April is up 13.9% compared to the same period in 2006.

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