Home improvement retailer Wickes has seen improved performance in second quarter trading, contributing to a 0.7% uplift in sales for the first half of 2023.

In its financial statement, Wickes reported its was an “encouraging” first half in a challenging consumer environment.

Total like-for-like sales growth was up 3.0% in the second quarter offsetting the first quarter, 13 weeks to April 1, which was 1.8% down.

Sponsored Video

Quarter sawn Tulipwood

While Core sales saw an improvement in the second quarter, up 2.3% as opposed to 4.4% down in the first quarter, overall for the first half of the year they were down 0.8%.

However, Wickes reported “continued healthy” order pipelines for local trade professionals.

However Do It For Me (DIFM) showroom sales were up 5.8%, with growth of 6.2% in the first quarter and 5.3% ahead in the second quarter, citing bathrooms as performing well.

David Wood, CEO of Wickes, commented on the financial results: “This has been an encouraging first half where we have again seen the benefits of our uniquely balanced business model delivering well for customers.

“Our performance has been underpinned by further momentum in trade, as local traders continue to turn to Wickes to save them time and money, an improving trend in DIY, and a good performance in Do-It-For-Me.

“As we continue to make progress across our strategic growth drivers, we are confident in the Group’s prospects for both the remainder of this year and the longer term.

“We are also pleased to announce our revised capital allocation policy, which reflects confidence in the company’s strategy and business model.”

Six store refits have been completed in the year to date, and the first new store in 2023, in Chelmsford, will open imminently with two further openings planned before the year end.

It also outlined future investment of around £17m in 2023, growing to £25m from 2025, in its digital strategy to modernise the systems inherited from TP, improve its customers’ online experience and to increase the efficiency of our operations.