Travis Perkins business review could see Wickes put up for sale
Wickes owner Travis Perkins has indicated that it could sell the chain as part of a review of the group indicating it will focus on its trade people customers.
‘The heritage of the Travis Perkins Group is founded in serving its UK trade customers and this represents the majority of group activity today, with generalist and specialist merchants continuing to see the largest share of industry growth with returns remaining resilient over time.
‘In the short term, management will also focus on strengthening the performance of Wickes and capitalising on its clear competitive advantages in the diy, small trade and kitchen and bathroom markets. As it is a predominantly consumer focused business, the board will also look to review the options for maximising the value of Wickes in the medium term,’ said the group.
‘The fundamental long-term growth drivers of the business remain robust, with a continued shortage of housing in the UK and under investment in the maintenance and improvement of the existing, ageing, housing stock. In the shorter term, market conditions remain uncertain, impacting secondary housing market transactions and consumer confidence.
‘The group will focus on delivering best in class service to trade customers through businesses with clear competitive advantages in their markets. The group aims to deliver sales growth through market outperformance, building on the momentum in the contract merchanting businesses, the continuing strong growth in Toolstation, and a reinvigoration of our market-leading general merchanting business.’