Wickes Christmas sales rise as owner Travis Perkins preps demerger

Wickes Travis Perkins David Wood
The home improvement retailer saw a like-for-like sales growth of 4.5%
// Wickes like-for-like sales rose 4.5% over Christmas
// Total group sales also increased by 7.7%
// Owner Travis Perkins is preparing to demerge Wickes from the group

Wickes has said it achieved “a strong sales performance” during the fourth quarter of 2019.

The home improvement retailer saw a like-for-like sales growth of 4.5 per cent, while for the full year, like-for-like sales increased by 8.7 per cent and total sales rose by 7.7 per cent.

The figures were released by parent company Travis Perkins ahead of a capital markets day in preparation of Wickes demerging from the group.

READ MORE: Travis Perkins names Christopher Rogers as Wickes chair designate

“I am delighted to report a strong sales performance for Wickes in Q4 and for the full year, setting us up well for the intended demerger from Travis Perkins, which remains on track for Q2 2020,” Wickes chief executive David Wood said.

“I would like to thank all my colleagues for their hard work, dedication and focus on delivering for our customers, which has driven excellent performance across the year.

“We are looking forward to our future as a standalone business, building towards our vision of a Wickes project in every home, allowing us to create long-term value for all our stakeholders.

“We have great confidence in our strategy, which is centred around our strong brand, a distinctive and hard to replicate customer proposition, a uniquely balanced business and a low cost and efficient operating model.

“We are pleased with the growth Wickes is delivering and confident in our ability to continue to grow.

“We look forward to providing more detail on this at today’s capital markets day.”

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