Home improvement retailer Wickes Group plc has announced a trading update for the 13 weeks to 28 September.
In the quarter, the retail revenue was £312.1 million, growing by 4.7% year-on-year. LFL revenue growth was 4.2%. The company described its retail segment’s growth as “particularly strong” in the quarter, driven by volume, with selling price deflation of around 2%.
Trading also benefitted from customers catching up on outdoor projects delayed by the wet weather during spring and early summer. However, the pent-up demand will subside in Q4, according to the company.
TradePro’s sales increased by 16% year-on-year in the quarter, with active members increasing by 18% year-on-year to 564,000. DIY sales “moderately declined“ as customers continued to focus on smaller projects.
Revenue for the design and installation segment was £79.2 million, dropping by 7.1% year-on-year and 13.3% on an LFL sales basis. Ordered sales were lower than the same period last year but have been more stable in recent weeks.
Overall, the group’s revenue increased by 2.1% year-on-year to £391.3 million compared to the prior year. On an LFL sales basis, it increased by 0.4%.
“We’ve seen pleasing further progress in retail, successfully growing volumes and increasing market share, driven by a particularly strong performance in TradePro. We remain on track for the full year and are well positioned for 2025 and beyond,” said David Wood, chief executive of Wickes.
