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Wickes boosted by rising showroom trade


In results posted today, total like-for-like (LFL) turnover per day for building materials & DIY retailer Wickes was up 0.6 per cent year-on-year in Q3.

The total LFL turnover for the whole 39-week trading period to October 2nd however was down 0.1 per cent.

Showroom sales continue to perform best for the retailer, rising 11.9 per cent during the year, which was an improvement on the 11.6 per cent increase during the first half.

Margins continue to be tight for the retailer, which previously recorded a LFL trading decline of 0.4 per cent in the first six months of 2010, and the demand for big ticket items appears to have fallen in recent months.

Wickes’ parent company Travis Perkins Ltd, which also sells building merchant materials, recorded a rise in group turnover of six per cent in the first six months of 2010.

LFL turnover per trading day increased 10.3 per cent for the group during the third quarter.

Commenting on Wickes’ results, a statement from Travis Perkins said: “Gross margins for the third quarter are ahead of last year continuing the trend of the first six months.

“However, the recent response by competitors to the reduction in their market shares has resulted in an erosion of some of this gain.”

Total turnover at Wickes rose 2.1 per cent in the year-to-date but core products sales continue to struggle, with LFL turnover per day in this area down 2.8 per cent.

Published on Monday 11 October by Editorial Assistant

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