Wickes experienced a sales boost in the third quarter, driven by increased demand from customers completing delayed summer projects.
- Retail sales at Wickes rose by 4.7% to £312.1 million, contributing to a total sales increase of 2.1% to £391.3 million.
- The company’s TradePro division witnessed a significant 16% growth, enhancing overall sales performance.
- Despite the positive retail sales, the DIY sector saw a decline, with consumers shifting focus to smaller projects.
- Wickes’ Design and Installation sales dropped by 7.1%, although stability has been observed in recent weeks.
Wickes has reported an increase in sales for the third quarter, attributed to a surge in customer demand as they hurried to finish summer projects. Retail sales for the DIY retailer increased by 4.7%, reaching £312.1 million, which played a crucial role in the overall rise of 2.1% in total sales to £391.3 million during the 13 weeks ending 28 September.
The company stated that customers were catching up on outdoor projects that had been delayed due to adverse weather conditions in the earlier part of the year. This delay resulted in a concentrated effort to complete these projects, thereby boosting Wickes’ sales in this period.
The TradePro offer significantly contributed to this growth, exhibiting a remarkable 16% increase over the quarter. This indicates a robust performance in that particular division, which helped offset declines in other areas.
Despite the overall positive trend, the company acknowledged a moderated decline in its DIY sales, as consumers seemed to be focusing more on smaller, manageable projects. This shift points to a change in consumer behaviour, possibly influenced by economic factors or changing consumer preferences.
Sales from Wickes’ Design and Installation division dropped by 7.1% to £79.2 million. However, the company noted that although ordered sales were lower during the quarter compared to the previous year, stability has been more evident in recent weeks.
Wickes’ Chief Executive, David Wood, remarked on the company’s continued appeal to home improvers, citing excellent value and service as key factors. He noted, “Our excellent value and service-led offer keeps home improvers coming back to Wickes. We remain on track for the full year and are well positioned for 2025 and beyond.”
The third quarter results indicate Wickes’ ability to leverage pent-up demand, though challenges in certain divisions remain evident.
