Travis Perkins reports strong like-for-like sales uplifts at Wickes and Toolstation
Travis Perkins has reported that its Wickes and Toolstation businesses made a good start to the year with strong uplifts in like-for-like sales in the company’s first quarter.
Like-for-like sales at Wickes climbed by 10.5% in the three months to 31 March and the retailer saw total sales in growth both in its core DIY and kitchens and bathroom categories. Sales in the DIY category were driven by a strong execution, although this was partially offset by the timing of Easter this year. Kitchens and bathrooms benefited from a good order book carried over from 2018 when a competitor decided to cease offering a design and install service for end-consumers.
Meanwhile, like-for-like sales at Toolstation surged by 19.1% as its performance was underpinned by the expansion of its store network, the launch of a new website, and the extension of online ranges which helped to increase sales density. Toolstation is on track to open 60 new stores in the UK this year and is also expanding in Europe.
John Carter, Travis Perkins chief executive, said: “Toolstation continues to grow extremely well, driven by network expansion and existing stores maturing. Wickes posted encouraging sales growth figures in both core DIY and showroom categories, demonstrating a strong turnaround in kitchen and bathroom performance.”
Across the wider Travis Perkins group, which also includes merchanting and plumbing and heating businesses, like-for-like sales were up 7.3% while total sales increased by 5.4%.
Carter said: “We have delivered strong sales growth in the first quarter of the year, which reflects both our focus on excellent customer service and the weak comparator in 2018. This performance is all the more encouraging given the impact of the on-going political uncertainty on our end markets.”
