Wickes ready to "invest in price" following Wesfarmers' Homebase buy

DIY chain Wickes could cut prices ahead of Homebase becoming Bunnings.

Wickes, which is owned by builders’ merchant Travis Perkins, saw sales rise 7.3 per cent in its DIY hardware stores in the first three months of the year.

Travis Perkins chief executive John Carter said: "I’m not against good competition as it helps drive the market forward. Competition is going to heat up but we think we have a good plan. If we have to adjust and invest a little bit in price we are willing to do that."

Wickes has a £1.1 billion turnover, Homebase has £1.5bn and B&Q £4bn of the UK's £13 billion DIY market.

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