Wickes Group has released an encouraging trading update for the 17 weeks to 26 April 2025.
According to the report, the start of 2025 has seen good growth momentum across the business. In the first 17 weeks of 2025 overall Group revenue increased by 6.9% year on year to £533.1 million.
Wickes says it delivered strong volume-led sales growth in Retail with revenue up 9.6% (to £396.7 million). In Design & Installation, another quarter of ordered sales growth with contribution from Solar Fast have resulted in Design & Installation delivered revenue improving to broadly flat year-on-year (revenue went up 0.4% to £136.4 million.)
Retail sales delivered strong growth in the period. The company increased market share further, with particularly strong performance in building, garden and decorating categories. This sales performance was again driven by volume growth, with deflation close to zero in the period.
Within Retail, TradePro continued to perform strongly, with sales up 13% year-on-year. Active TradePro members have increased by 14% year-on-year to 605,000. DIY sales were also in year-on-year growth, driven by volume, as a result of an increase in customer transactions.
The update says the business has been well positioned to benefit from the warmer weather at the start of this year, which has supported the strong sales performance in Retail. For example, the week of the early May bank holiday saw Wickes' biggest-ever week for sales of compost and top soil.
The positive momentum within Design & Installation sales has continued. The group has achieved another consecutive quarter of year-on-year growth in ordered sales, following a number of actions taken during 2024 to improve customer offer and experience. As expected, delivered sales (which lag ordered sales by a few months) were broadly flat in the first 17 weeks of 2025.
Investment in strategic growth levers continues, with work underway to convert four former Homebase stores as part of plans to open five to seven new stores in 2025. Three stores were refitted in the period and c.80% of the store estate is in the new format.
In 2025 the company plans to step up the level of investment in technology to enhance the customer experience further and to support productivity initiatives, aiming to position itself for profitable growth in the next few years.
The group estimates that actions taken to invest in its growth levers and productivity programme have set it up well for a successful 2025. While the consumer outlook remains uncertain and the business faces significant cost headwinds, it has made a good start to the year and remain comfortable with current consensus expectations for adjusted PBT in 2025.
David Wood, Chief Executive of Wickes, commented: "This has been a strong start to the new financial year, with the further increase in sales driven exclusively by volume growth, as more customers shop with us.
"Within Retail, we have gone from strength to strength. We have taken further market share and seen a very good market outperformance in timber, hardware, decor and garden.
"In Design & Installation, we are benefitting from the actions taken to enhance the Wickes offer. This is a segment demonstrating real momentum, with a second quarter in a row of ordered sales growth.
"While we continue to be mindful of consumer sentiment and a challenging external environment, we have a strong platform in place and we are well set to continue delivering against our strategy"
