Wickes HY LFL revenues fall 3.9% to £799.9m
Despite this the company has stated that its retail sales remained resilient and that it has continued to increase its market share to record levels
Wickes has revealed that its revenue fell 3.9% like-for-like down to £799.9m for the six months ended 29 June 2024, despite a strong performance from its retail division.
It comes as the company saw its design and installation revenue fall 18.3% like-for-like down to £166.7m.
However, the company’s retail revenue actually rose 0.6% like-for-like up to £633.2m.
In Q1 Wickes saw its overall revenue fall 3.3% like-for-like down to £363.7m while its Q2 revenue fell 4.4% like-for-like down to £436.2m.
Despite this, the company has stated that its retail sales remained “resilient” and that it has continued to increase its market share to record levels.
David Wood, chief executive, 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”.
