Home improvement and DIY retailer Wickes has posted a “resilient” sales performance in its third quarter trading update 2021.
Core sales moderated compared to the same time period in 2020, with a dip of 2.3% but remained ahead on a two-year basis with sales up 27.4% on 2019.
According to the company, these sales were supported by a “strong” performance in local trade, where home renovations continued to drive “robust” order books for trade customers.
In addition, Wickes reported supply shortages had no impact on sales in the period, as price inflation has accelerated.
But the retailer said it will manage this inflation by focusing on cash margin recovery, to maintain its price position.
Wickes stated Do-It-For-Me (DIFM) showroom sales were ahead year-on-year of 0.7%, with ordered sales boardly in line with 2019, as outlined at its interim results of its first half performance.
It also stated the order book remained “considerably” higher year-on-year impacted by extended project completion time and will result in a higher carry over of orders into 2022.
CEO of Wickes David Wood commented on the results: “This resilient performance has been underpinned by our digitally-led and service-enabled customer proposition, while our agile business model has enabled us to continue to navigate inflationary pressures and raw materials constraints well.
“We are well-placed within a large and growing improvement market, and look to the future with confidence.”