Wickes has reported a positive increase in its third quarter sales, driven by a surge in demand for summer project completions.
- The period saw a 2.1% rise in sales, amounting to £391.3 million, with retail sales specifically climbing by 4.7% to £312.1 million.
- The growth was largely attributed to the completion of outdoor projects delayed due to unfavourable weather conditions earlier in the year.
- A notable 16% increase in sales through the TradePro offer was observed, despite a decline in DIY sales as consumers opted for smaller projects.
- Wickes’ Design and Installation sales faced a decrease, although recent stabilisation was noted.
In a significant turnaround, Wickes reported a rise in its third quarter sales by 2.1%, reaching a total of £391.3 million. This uptick was primarily due to an increase in retail sales, which climbed 4.7% to hit £312.1 million during the 13-week period ending on 28 September.
The sales boost can be attributed to a strong recovery as customers rushed to complete outdoor projects that had been postponed earlier in the year because of poor spring and early summer weather conditions.
An impressive growth of 16% was achieved in the TradePro offer, underscoring the strong performance in this segment, even as overall DIY sales showed a modest decline. This decline is reflective of a market shift towards smaller-scale projects by customers.
Despite a 7.1% drop in Design and Installation sales to £79.2 million, Wickes noted that while ordered sales were lower compared to the previous year, there has been greater stability in recent weeks. This indicates a potential for recovery in the upcoming quarters.
Wickes’ Chief Executive, David Wood, expressed satisfaction with the progress, citing their value and service-led approach as key factors in maintaining customer loyalty. He remarked on the company’s ability to grow market share and remain well-positioned for the future, including the outlook for 2025.
Wickes’ third quarter performance underscores its resilience and strategic focus amidst a changing market landscape.
