Wickes sales grow 5.2% as energy-saving products provide boost
Its ‘Do It For Me’ like-for-like sales soared 34.5%, which helped total group sales increase by 11.5% in the final three months of 2022
Wickes has announced that its like-for-like sales grew by 5.2% in Q4 up to 31 December, as it saw strong demand for energy-saving products such as loft insulation and draught excluders.
Its “Do It For Me” like-for-like sales soared 34.5%, which helped total group sales increase by 11.5% in the final three months of 2022.
However core like-for-like sales slipped 2% over 2022 as a whole, with the DIY group seeing steep declines at the start of the year as trade eased back from the boom seen during the pandemic.
Going forward, Wickes said it expects its full-year adjusted pre-tax profit to be in line with current market expectations of between £72m to £76m for 2022, down from £85m in 2021.
Wickes chief executive David Wood said: “Wickes traded well during the period, with Group sales up 11.5%, underpinned by our relentless focus on value, availability and service.
“With the increased cost of living and colder winter months we have seen more customers turning to Wickes for help to reduce their energy usage and bills.
He added: “We’re providing market-leading value on products, from loft insulation through to draught excluders, and customers are visiting our online Sustainable House Guide for great hints and tips on how to reduce energy and cut back on costs.
“Wickes continues to demonstrate the strength of its uniquely balanced business model. We remain focused on our growth levers to ensure that we continue to outperform the market.”
