Wickes posts rise in fourth quarter sales
Wickes saw its core like-for-like sales grow by 5.2% in its fourth quarter as trade continued to improve following the summer.
Furthermore, group sales rose by 11.5% in the 13 week period ending 31 December.
The company said DIY sales remained below last year, although they stabilised towards the end of the quarter due to the popularity of energy saving products. However, Do-it-for-me like-for-like delivered sales were 34.5% ahead on a one-year basis as the company worked through an elevated order book following an omicron impacted period in the prior year..
Wickes said its Do-it-for-me 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.
Following the 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.”
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