Wickes on track for continued growth

DIY and home improvement retailer Wickes half year trading update shows group sales have grown by 33.1% year-on-year and 22.4% on a two-year basis.

23 Jul, 21

DIY and home improvement retailer Wickes half year trading update shows group sales have grown by 33.1% year-on-year and 22.4% on a two-year basis.

Wickes employs first women installation apprentices

 

In Q2 like-for-like sales growth was ahead by 47.6% and 19.7% on a two-year basis.

Driven by local trade and DIY, the retailer reported core volume continued to grow “strongly” across a range of categories.

Sponsored Video

While DIFM (Do-it-For-Me) sales in the first half were impacted by the enforced closure of its instore kitchen and bathroom showrooms, the company stated virtual sales “continued to resonate well with consumers.”

Since reopening sales at point of order for DIFM have grown over 30% on a two-year basis, which the company states will support sales growth in the second half of the year.

According to Wickes, although it is “watchful” of the ongoing impact of COVID and wider economic environment, the outlook for the first year is in line with its expectations.

CEO of Wickes David Wood commented: “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.

It follows the demerger of the business from Travis Perkins and  Wickes Group interim results will be released on September 16, 2021.