Skip to main content

+44 (0) 121 237 1130

info@bheta.co.uk

Join BHETA

Wickes delivers strong Q4 performance

In December 2018, the Travis Perkins Group announced a strategic plan formulated around two key pillars; to focus on its advantaged trade businesses, and to simplify the Group to enable a more streamlined cost structure and faster decision making. In line with these strategic aims, and following a significant improvement in the financial performance of the Wickes business in the first half of 2019, the Group announced in July 2019 the intention to demerge Wickes.

Acting as separate listed entities will enable the management team of each company to focus on delivering a distinct business plan to deliver the best service to their primary customer base, allocating capital and resources in the optimum way to deliver sustainable returns.

Wickes

Today, the Wickes management team is hosting a capital markets presentation to set out its strategy as a digitally-led, service-enabled home improvement business, together with updating the market on sales performance for the final quarter of 2019.

At the event, the Wickes management team will provide detail on the investment case, which will include an overview of the unique customer proposition, financial framework and vision for growth across both Core (Local Trade and DIY) and DIFM (Do-it-for-me).

Wickes delivered like for like sales growth of 4.5% in Q4 driven by continued strong performance across both Core and DIFM. For the full year, like-for-like sales growth was 8.7% and total sales grew by 7.7%.

 

Q4 2019 sales growth Core DIFM Wickes(1)
Like-for-like sales growth 5.1% 3.2% 4.5%
Total sales growth 4.2% 1.7% 3.4%
YTD 2019 sales growth Core DIFM Wickes
Like-for-like sales growth 6.5% 14.1% 8.7%
Total sales growth 5.7% 12.8% 7.7%
Two-year total sales LFL growth 4.0%

 

David Wood, Wickes CEO, commented:

“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.

“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.”

View the Capital Markets Day presentation here.

Source : Insight DIY & Travis Perkins


Strictly Necessary

These cookies are required for our website to operate and include items such as whether or not to display this pop-up box or your session when logging in to the website. These cookies cannot be disabled.

Performance

We use 3rd party services such as Google Analytics to measure the performance of our website. This helps us tailor the site content to our visitors needs.

Functional

From time to time, we may use cookies to store key pieces of information to make our site easier for you to use. Examples of this are remembering selected form options to speed up future uses of them. These cookies are not necessary for the site to work, but may enhance the browsing experience.

Targeting

We may use advertising services that include tracking beacons to allow us to target our visitors with specific adverts on other platforms such as search or social media. These cookies are not required but may improve the services we offer and promote.

Change Settings

Welcome. You can control how we use cookies and 3rd party services below

Change Settings Accept
Learn how we use cookies