Wickes' like-for-like sales drop 6.8%
Published: 13 December 2011
Wickes has reported a 6.8% decline in like-for-like sales for the past eight weeks, according to a trading update released by parent company Travis Perkins today.
This recent decline follows a 1.6% dip in like-for-like sales for 11 months to November 26, while kitchen and bathroom sales plummeted 13.3% during the same period, reflecting continued weak consumer confidence for big-ticket items.
Turnover for the 47-week period went up 0.6%, with core product sales up 1.6% on a like-for-like basis.
Travis Perkins reported a 5.5% increase in group turnover, including recent acquisition BSS on a proforma basis.
A statement from the company said: "We remain on track to meet our net debt target of £600m at the year end. These trends mean that our outlook for the year as a whole remains unchanged from that stated in our October interim management statement."