Wickes boosted by strong performance in TradePro
Wickes has reported that revenue increased by 6.3% in its second half after a strong performance in retail.
In the six months to 27 December, retail revenue grew by 6.2%, supported by a sustained increase in volume and strong performance in TradePro, where sales rose 8% year-on-year.
Subscribe to TRBDIY sales recorded mid-single-digit growth, driven by an increase in customer transactions.
Wickes’ Design & Installation offering continued to perform well, with revenue rising by 6.9% as customers responded positively to enhancements in the kitchen and bathroom proposition. Ordered sales have now grown for five consecutive quarters.
David Wood, chief executive of Wickes, said: “This has been another period of good sales growth for Wickes, underlining a year of strong progress against our strategy.
“Pleasingly, growth has been volume-driven across the business, with customers turning to Wickes for value, convenience and speed.
“Our Design & Installation customers have responded well to the enhancements to our offer, enabling us to build on the sales momentum we have established this year.”
The company continued to invest in stores in the period with new openings in Southport and Northampton Riverside in its fourth quarter. It also completed one full store refit and refreshed a further five stores in the second half, which means around 83% of the store estate si now in the new format.
Wood said: “As we continue to invest in our growth levers, we remain on track to meet market expectations for the full year and look forward to supporting even more customers with their home improvement projects in the year ahead.”
