Toolstation: Q1 LFL Sales Increase Close to 20%

Travis Perkins has reported strong growth in the first quarter of the financial year.

Toolstation continued its impressive like-for-like sales growth, reaching 19.1% in the quarter.  Total sales growth was 25%, underpinned by the continued expansion of the store network, alongside the launch of the new website at the end of 2018 and the successful extension of online ranges which are helping to increase sales density. We remain on track to open 60 new stores in the UK in 2019, with encouraging progress in expanding the network in Europe. 

Earlier this year, it was revealed that Toolstation is to open trial stores in Belgium.

In full-year results for 2018, Toolstation's sales increased by 11.4% on a like-for-like basis.

John Carter, Chief Executive, commented:

"We have delivered strong sales growth in the first quarter of the year, which reflects both our focus on excellent customer service and the weak comparator in 2018. This performance is all the more encouraging given the impact of the on-going political uncertainty on our end markets.

"...Toolstation continues to grow extremely well, driven by network expansion and existing stores maturing."

Source : Travis Perkins PLC

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