Wickes reports quarter of volume led growth
Wickes has reported a 6.9% increase in third quarter revenue to £420.1 million, with like-for-like sales up 5.9%.
For the 13 weeks to 27 September, retail revenue climbed 6.7% to £312.5 million as like-for-like sales rose by 5.6%. The retailer credited the performance to sustained volume growth, stable pricing, and improvements in its click & collect service, which now offers an average collection time of 15 minutes.
Wickes’ TradePro offering continued to perform well with sales up 8% year-on-year. DIY sales saw mid-single digit growth, supported by rising customer transaction volumes.
Subscribe to TRBMeanwhile, design and installation sales increased by 7.8% to £107.6 million.
Wickes opened two new stores in Bury St Edmunds and Dunfermline in the period and will launch a further two stores in the fourth quarter. The business is also increasing its investment in SaaS technology as it looks to enhance the customer experience and support productivity initiatives.
David Wood, chief executive of Wickes, said: “This has been another strong period for Wickes, with sales driven by an increase in volumes.
“Within retail, our continued outperformance has seen us take further market share. In design and installation, the changes made to our offer are showing through in increased demand and ongoing momentum.
“Looking ahead, we remain well-placed for the full year as we continue to support our customers across all their home improvement projects.”
