Wickes returns to ‘volume growth’ and ‘on track’ trading expectations after two year hiatus
Full-year trading expectations are “on track” for Wickes as the home improvement retailer reports volume growth for the first time since 2021.
Total like-for-like sales for the DIY and garden centre firm were up 0.2 per cent this quarter ending in September, compared to a previous three per cent in the previous three months.
Chief executive David Wood said: “In our Core business we have gained further market share and achieved a return to volume growth. We have fulfilled strong demand from our Trade customers and been encouraged by greater stability in DIY.”
The fourth quarter will bring a handful of new stores and refits for the company, with two new stores having already opened and four further refits planned.
“As we continue to roll out our programme of store openings and refits, I am confident that we have the right product offer and the most attractive locations – enabling us to deliver value for customers and shareholders,” Wood said.
Despite seeing an uptick of 1.1 per cent in core like-for-like sales, ‘DIFM’ (Do It For Me) sales slumped 4.4 per cent.
While numbers for DIFM aren’t too favourable in the third quarter, they were up almost six per cent in the first six months of the year.
The company said the decline is partially due to delays in delivered sales because of a new software solution used to fulfil customer orders.