Wickes boosted by kitchens demand as wet weather dampens outdoor sales
Wickes has delivered a 1.3% revenue increase to £537 million in the 17 weeks to 25 April, with growth driven by its design and installation and TradePro offerings.
The home improvement retailer’s retail revenues were broadly maintained year-on-year, although like-for-like sales were down 1.7% as demand for outdoor projects was impacted by higher rainfall in the period compared to the same time last year.
Subscribe to TRBWithin retail, TradePro sales increased by 4% after the number of active tradesperson members rose by 9% year-on-year to 662,000.
Meanwhile, design and installation revenue, which covers kitchens and bathrooms, increased by 6.4% as customers continued to respond well to an improved proposition. While there was strong growth in bathrooms and Wickes lifestyle kitchens, orders for bespoke kitchens slowed as customers became more cautious about their project spend.
Wickes said it is accelerating investment in its new store rollout strategy as it looks to reach a target of 300 stores. It is expecting to open four to five new stores in the current year and refit or refresh 15 to 20.
David Wood, chief executive of Wickes, said: ”We are pleased to have achieved further volume growth in the first 17 weeks of the year.
“TradePro continues to go from strength to strength, while the performance in design and installation is testament to our broadened offer across kitchens and bathrooms.
“Our proven growth strategy gives us added confidence as we accelerate our new store rollout and refresh programme.”
