Wickes reports notable increase in third quarter retail sales, driven by a surge in demand for summer project completions.
- The company saw a 2.1% rise in overall sales amounting to £391.3 million for the 13-week period ending 28 September.
- Retail sales experienced a significant boost of 4.7%, reaching £312.1 million as customers focused on delayed outdoor activities.
- TradePro sales saw an impressive 16% growth as professional customers continued to rely on Wickes’ offerings.
- Despite these gains, DIY sales experienced a slight decline as consumers prioritised smaller, manageable projects.
Wickes has reported a considerable increase in its third quarter sales as customers rushed to complete summer projects delayed earlier in the year. Total sales rose by 2.1% to £391.3 million over the 13 weeks leading up to 28 September, highlighting a period of recovery and pent-up consumer demand.
Retail sales, a significant part of Wickes’ operations, showed a promising rise of 4.7%, amounting to £312.1 million. This increase is largely attributed to customers ‘catching up on outdoor projects’ that were previously postponed due to unfavourable weather conditions during spring and early summer.
The company’s TradePro sales marked a robust 16% increase, evidencing the continued reliance of trade professionals on Wickes’ services and products. This sector’s growth was a notable highlight amidst the company’s quarterly achievements.
Despite these encouraging trends, Wickes’ DIY sales are experiencing a ‘moderate decline’, as indicated by the company. Consumers are seemingly opting for smaller, more manageable projects, reflecting a shift in DIY priorities.
The decrease in Design and Installation sales by 7.1% to £79.2 million suggests a tempered demand compared to the previous year, though recent weeks have seen these sales stabilise. Wickes is staying optimistic, with Chief Executive David Wood affirming their strategic direction and readiness for the coming years, emphasising their ‘excellent value and service-led offer’.”
Wickes remains poised to maintain its market position and adapt to shifting consumer trends in future quarters.
