Wickes sees sales dip following 'soft appetite for larger ticket purchases' but retail side sees uptick
Sales have slipped at home improvements retailer Wickes amid challenging conditions which have seen a more subdued market for big home projects.
In a trading update for the six months ending June 29, the home improvement retailer saw its like-for-like retail revenue rise by 0.6% year on year to £633.2m.
But revenue for design and installation – delivering kitchens and bathrooms – was down 18.7% on last year, at £166.7m.
Group revenue was £799.9m, down 3.9% on the first half of last year.
Wickes said the design and installation figures reflected 'the continued soft consumer appetite for larger ticket purchases and a strong comparative in the first half of 2023'.
The business said that given the 'resilient first half in retail' and its continued focus on costs, its overall outlook for adjusted profit before tax for 2024 remains unchanged.
David Wood, Chief Executive of Wickes, said: "Our excellent value and service-led offer gives DIYers and tradespeople reason to keep coming back to Wickes.
"Against a challenging trading backdrop, we have grown volume and taken further market share in retail, with our TradePro scheme continuing to show strong momentum as local trade professionals turn to Wickes to save them time and money.
"We're seeing good demand for our lower-priced Wickes Lifestyle Kitchens, reflecting customers' desire for quality and value We continue to invest in our growth levers and are particularly excited about the recent acquisition of Solar Fast."
