Wickes sales hit by adverse weather in Q1
Sales trends have improved towards the end of the period as the weather has started to normalise, yet DIY sales still remain lower year-on-year
Wickes has revealed that for the first 16 weeks of the year to 22 April the group’s like-for-like sales were down by 0.6%, with core like-for-like sales down by 3.6%.
The group has attributed this to its core sales having been affected by adverse weather at the start of the year, which affected outdoor and weather-related categories.
However, the group maintains that it has performed in line with expectations, as it had increased DIFM sales by 9.3% over Easter.
Sales trends have improved towards the end of the period as the weather has started to normalise, yet DIY sales still remain lower year-on-year. This comes as inflation remains mixed across categories but slows overall.
In addition, orders in the first 16 weeks were up marginally year-on-year, with a reduction in leads more than offset by an increase in conversion.
Meanwhile, costs remain controlled, with the group making savings in distribution, logistics and store operations.
Wickes has so far completed four refits in the year to date, with the first new store this year at Chelmsford expected to open in the summer.
David Wood, CEO of Wickes, said: “This has been an encouraging start to the year where we have again seen the benefits of our uniquely balanced business model delivering well in a challenging economic environment.
“Our performance has been underpinned by further momentum in Trade, as local traders continue to turn to Wickes to save them time and money, and a strong performance in Do-it-for-me.”
He added: “As we continue to make progress across our strategic growth drivers, we are confident in the group’s prospects for both the remainder of this year and the long term.”