Total sales at Wickes rose by 11.5% in its fourth quarter to 31 December, with growth in both its main divisions.
Like-for-like sales in its core retail operation climbed 5.2%, continuing an improving trend since the summer, boosted by strong trade sales. DIY sales remained below last year, although they “stabilised” towards the end of the quarter supported by sales of energy-saving products.
In its Do-It-For-Me (DIFM) unit, like-for-like sales jumped 34.5% as the company worked through an elevated order book following an omicron-impacted period in the prior year.
Wickes noted that its DIFM order book was lower than 2021 at the end of December but still above 2019 levels. Orders in the fourth quarter were moderately down versus last year, but orders in the first quarter of its new financial year are in line with the prior year.
During the period, Wickes completed four store refits and downsized and refitted its Maidstone store. It also opened a new shop in Bolton, with plans for further openings in 2023.
Following the robust quarterly performance, Wickes expects its full year adjusted pre-tax profit to be in line with current market expectations.
David Wood, Chief Executive of Wickes, said: “Wickes traded well during the period, with Group sales up 11.5%, underpinned by our relentless focus on value, availability and service.
“With the increased cost of living and colder winter months we have seen more customers turning to Wickes for help to reduce their energy usage and bills. We’re providing market-leading value on products, from loft insulation through to draught excluders, and customers are visiting our online Sustainable House Guide for great hints and tips on how to reduce energy and cut back on costs.
“Wickes continues to demonstrate the strength of its uniquely balanced business model. We remain focused on our growth levers to ensure that we continue to outperform the market.”
