Travis Perkins reports flat like-for-like sales at Wickes
Travis Perkins has reported flat third quarter like-for-like sales at its consumer division which includes DIY retailer Wickes and tile specialist Tile Giant.
In the 13 weeks to 29 September 2013, the group saw stronger trading momentum in its trade divisions which helped the group to increase its total sales by 8.6%, with like-for-like sales growth of 6.3%.
In a trading statement issued today Travis Perkins said its retail markets had been “challenging”. This had led to flat like-for-like sales growth for its consumer division in the quarter, which was a significant reduction on the 8.6% growth recorded in the two months to 30 June 2013.
It explained that both Wickes and Tile Giant benefited little from the heatwave over the summer due to their limited range of outdoor categories, although a continued focus on cost efficiencies had partially offset the impact of weaker growth.
Never Miss a Retail Update!Chief executive Geoff Cooper said: “Whilst still early in the recovery of our markets, the stronger trading conditions experienced by our merchanting businesses in particular is a reassuring indicator of improved sentiment in construction.
“The recovery in activity, signalled by us in early 2013, looks set to continue into 2014 as owners’ and occupiers’ construction and maintenance activity increases from the very low levels encountered over the last five years. The group is well positioned, as the leading supplier of building materials in the UK, to take advantage of this recovery.”
