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Wickes results reflects "significant uncertainty" post-Brexit

Published: 2 August 2016
Travis Perkins, the parent group of Wickes and Toolstation, has reported a 6.5% like-for-like increase and 10.5% sales rise in its half-year trade results to June 30.
Wickes results reflects 'significant uncertainty' post-Brexit
Chief executive John Carter also reported increases in trading for July, saying that he believes the company to be the first of the home improvement and DIY retailers to report positive finances following the Brexit vote on June 23.

He said, "It is clear that the result of the EU referendum has created significant uncertainty in the outlook for our end markets and we did experience weaker demand in the run up to and immediately following the referendum.

"Our two-year like-for-like sales in July have been below the levels we experienced in the second quarter, however we have seen a gradual improvement through the course of the month.

"In our view it is too early to precisely predict end market demand and we will continue to monitor the lead indicators we track and will react accordingly."

The six months of trading saw the opening of one new Wickes store, the relocation of another and the renovation of 14 with more earmarked for facelifts in the next six months. Meanwhile, 16 Toolstations were opened.

Comments

02 August 2016 01:01:00
By bq bob
What a load of rubbish, all these firms blaming brexit. We all had a terrible may June July because we all suffered terrible bloody weather, people don't buy building materials if it's too wet to build, they don't buy summer clothing when it's pouring with rain week after week, and they don't buy garden furniture when it's cold wet and windy. But sales of tarpaulin fence panels and I expect umbrellas were massive compared to the same time last year. It's a total sham companies blaming brexit, they are talking the economy into recession by undermining confidence.

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