Travis Perkins sees Wickes sales down

12th Oct 2011 07:54

Travis Perkins, the UK builders' merchant and DIY retailer, says like-for-like sales at its Wickes stores were down 2% in the third quarter and 0.5% on the year so far compared to 2010.For the first nine months of 2011 total turnover in the merchanting division was up 11.4%, representing an increase in like-for-like turnover of 9.6% (although with one less trading day than the equivalent period of 2010). Like-for-like turnover for the third quarter increased by 7.7%. Like-for-like turnover at the recently acquired heating and plumbing firm BSS was up 2.3 % in the first nine months of the year. Like-for-like turnover for the three months to the 30th of September increased by 2.6%. Travis Perkins' debt was reduced in the third quarter, benefiting from the £27m sale of Buck and Hickman. The firm claims it is on track for its debt target of £600m by year's end.Geoff Cooper, the Chief Executive of Travis Perkins said he was pleased with the results:"We continue to take market share against a tough market backdrop, confirming the sustainable strength of our organic growth strategy. Our positive merchanting and BSS performance is balancing the effect of a challenging consumer environment for our retail business".BS