Wickes to cut prices on Bunnings’ arrival

MELBOURNE — Wickes, the UK’s third-largest DIY home improvement retailer, told investors that it will reduce prices in order to compete with newcomer Bunnings, The Australian reports. Wesfarmers, which contributed to the price war that brought down Masters in Australia, has acquired Britain’s Homebase stores, which will be rebranded under the Bunnings banner. “I’m not against good competition as it helps drive the market forward,” said John Carter, CEO of Wickes parent Travis Perkins. “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.”