Wickes posts strong first half sales increase
Wickes has posted a 33.1% increase in group like-for-like sales in the 26 weeks to 26 June.
Compared to the corresponding period two years ago, sales rose by 22.4%. The company said trading was driven by both local trade and DIY customers.
Whilst “Do-it-for-me” sales in the first half were impacted by the enforced closure of Wickes’ in-store kitchen and bathroom showrooms during the Covid-19 lockdown, the company said its virtual sales journey resonated well with customers. Since reopening its showrooms on 12 April, ordered sales have increased by over 30% on a two year basis.
Wickes said its first half guidance of around £45 million in adjusted pre-tax profit remains unchanged and that its outlook for the full year is in line with expectations.
David Wood, chief executive of Wickes, said: “This performance once more reflects the strength of our business model and the tremendous support from our colleagues who have worked with tireless dedication to help the nation feel house proud. We are managing to navigate inflationary pressure and industry wide raw material constraints by working closely with our suppliers, and we remain on track to continue to grow in a responsible and sustainable way, providing our customers with the products they need at the best possible value.”
