Wickes posts 4.5% sales rise as retail growth accelerates and prices edge up
Wickes announced that group sales grew 4.5% to £439 million for the quarter ending 26 September, with retail sales up 6% and mild price inflation beginning to show.
Wickes reported a significant improvement in its core retail performance for the three months to 26 September, with total group sales reaching £439 million, up 4.5% from the same period last year. Retail sales climbed 6% to £331 million, helping to balance slower growth in the design and installation division. The company highlighted an 8% increase in its TradePro business, which connects customers with tradespeople.
Wood, the chief executive, said the growth was driven by higher volumes and that “mild” price inflation is beginning to be reflected after a period of easing prices. Wickes credited strong demand for timber, flooring, roofing and garden products for its outperformance of the broader market. He added that the firm remains on track to meet full-year profit expectations as market-share gains continue.
Why it matters
The results show rising consumer spending on home improvement and suggest price pressures are returning in the UK market.
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