DIY market slows down
Wickes owner Travis Perkins feels the slowdown as consumers cut back on home improvement expenditure.
Travis Perkins said that the DIY market was patchy and that trading conditions would remain challenging with consumers spending less on big ticket items such as new kitchens. At Wickes, which was acquired by the group on 11 February 2005, total turnover for the 26 week period to 26 June 2005 was down by 1.7 per cent, with LFL turnover down by 4.9 per cent LFL turnover of core products (84per cent of Wickes’ sales) were down by 4.2 per cent.
The LFL performance, whilst showing monthly variations, continues to indicate an improved trend from the weakest position experienced, in February 2005, and latest data available shows Wickes gaining market share from national competitors. The home delivered showroom market, which accounts for around 16per cent of Wickes’ sales, continues to be soft as consumers rein back expenditure.Turnover in this category was off 8.4per cent on an LFL basis for the 26 week period.
