After posting disappointing results for 2024, Wickes appears to have started 2025 on a more positive note.
Over the first 17 weeks to 26 April, the DIY chain saw its group revenue increase by 6.9% (+5.5% like-for-like) to £533.1m. This was driven by its core Retail division, which saw like-for-like revenue climb 9.2% to £396.7m after strong volume-led performances in building, garden and decorating categories, helped partly by the sunny Spring weather.
Like-for-like sales in its Design & Installation division fell 4.2%, but delivered sales (which lag ordered sales by a few months) were broadly flat after another period of “positive momentum”.
Wickes noted that work was underway to convert four former Homebase stores as part of its plan to open 5-7 new stores in 2025. It refitted three further stores in the period and around 80% of its store estate is now operating under its new format. In 2025, the group plans to step up the level of investment in technology to “enhance the customer experience” and to support productivity initiatives.
“This has been a strong start to the new financial year, with the further increase in sales driven exclusively by volume growth, as more customers shop with us,” said David Wood, Chief Executive of Wickes.
“Within Retail, we have gone from strength to strength. We have taken further market share and seen a very good market outperformance in timber, hardware, decor and garden.
“In Design & Installation, we are benefiting from the actions taken to enhance the Wickes offer. This is a segment demonstrating real momentum, with a second quarter in a row of ordered sales growth.
“While we continue to be mindful of consumer sentiment and a challenging external environment, we have a strong platform in place and we are well set to continue delivering against our strategy.”
