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Travis Perkins, the company that owns Wickes DIY stores, said at its results that it was thinking about selling it to concentrate on its more successful trade-facing business.

Wickes has been a drag on profits for the group as a whole as Brits continue to fall out of love with DIY.

One recent industry estimate said that DIY spending is down by a third in two decades as the era of DIY – or Do-It-Yourself – has morphed into the era of CBA – Can’t-Be-Arsed.

Although some say this is down to the requisite skills not being passed down, it is probably more to do with the fact that younger people spend longer renting, thus negating any incentive to improve a property that they don’t own.

Fortunately, there is an increasing trend of DFY – or Done-For-You – which means that people are more likely to get someone in to do a job, which means that trade business is doing well – hence the relative success of ToolStation (which is also owned by Travis Perkins) and Screwfix (which is owned by Kingfisher, which is the company that also owns B&Q).

As far as Travis Perkins is concerned, though, getting a good price for Wickes might be difficult in a downtrend, but then again the sooner it can get rid of the drag the better in my opinion.

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Peter Watson

Peter Watson founded Seiha Consulting, a career transition consultancy, after working in HR and four recruitment agencies. He was also a stockbroker for 13 years in London and Tokyo, advising some of the world’s biggest financial institutions on European and Japanese stock market investment. He started writing the Daily (previously known as “Watson’s WIFI”) to help candidates prepare for interviews – but soon found that many others wanted to read it as well!

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