Wickes sales begin to recover in June
Travis Perkins has said its Wickes DIY business achieved strong sales growth in June following the re-opening of its stores in late May during the Covid-19 lockdown.
While like-for-like sales were down 19.8% overall in Wickes’ second quarter following respective declines of 53.1% and 32.1% in April and May, sales recovered to an uplift of 21.7% the following month.
The company said significant growth in core DIY categories more than offset slower sales in the kitchen and bathroom category.
Across the wider Travis Perkins group, which also includes Toolstation and general merchanting and plumbing and heating divisions, revenue fell by 20% to £2.78 billion in the six months to 30 June.
Nick Roberts, Travis Perkins chief executive, said: “Since the trading update on 15 June, the business has continued to recover well with good demand from RMI and infrastructure markets offsetting ongoing challenges in the new build and commercial construction sectors.
“We remain cautious as to the near-term headwinds facing our business and the wider economy, nevertheless the decisive actions we have taken to manage our cost base mean that we are well placed to continue to service our customers, support our colleagues and generate value for our shareholders.”
Last month, Travis Perkins said it was planning to cut around 2,500 jobs due to the Covid-19 pandemic as it closed 165 branches mainly within its general merchanting business.
