The Wickes chain has reported a decline in sales for the first 20 weeks of its current fiscal year, despite “record levels” of customer orders.
For the 20 weeks to 21 May 2022, like-for-like sales edged down 0.6% year-on-year, while core LFL sales slid by 7.2%. However, Wickes noted that delivered DIFM sales jumped up 30.9% in the period, adding that total group sales surged up 22.4% on a three-year basis (compared to pre-Covid levels).
The chain also reported “buoyant demand” in Local Trade, while it also added more than 40,000 new customers to its TradePro scheme in the year-to-date.
CEO David Wood noted: “I am delighted to report continued momentum, and a promising start to the year where we continue to take market share. This performance is testament to the strength of our uniquely balanced business – across trade, DIY and DIFM – and it has been achieved against strong prior year comparatives. I am particularly proud of our long-term performance, with sales remaining significantly ahead of pre-lockdown levels.
Looking ahead, Wood added: “Our growth levers are delivering strong returns and we are excited about our plans to optimise our store estate with refits and new stores … while we remain mindful of the uncertain macroeconomic environment, we continue to be confident of the opportunities available to Wickes within the large and growing home improvement market.”
