Wickes has delivered stronger sales and a volume growth in retail, with LFL sales up 4.2% to £312.1m for the 13 weeks to 28 September.
Despite challenging market conditions, the retailer’s design and installation business is “stabilising”, with LFL sales declining 13.3% to £79.2m compared to the 18.9% drop in Q2.
Within the retail segment, TradePro continues to perform “strongly”, with sales up 16% year-on-year in Q3. DIY sales remain in “moderate decline” as customers continue to focus on smaller projects.
Overall group revenue increased by 2.1% compared to the prior year to £391.3m.
Market share growth has been particularly strong in Q3, driven by volume, with selling price deflation of around 2%.
The retailer said it benefitted from customers catching up on outdoor projects delayed by the wet weather during spring and early summer.
During the period, Wickes opened its third new store of the year in Aberdeen as well as refitting two further stores.
Given the results, the group now expects its adjusted profit before tax to remain in line with expectations.
David Wood, chief executive of Wickes, said: “Our excellent value and service-led offer keeps home improvers coming back to Wickes. We’ve seen pleasing further progress in retail, successfully growing volumes and increasing market share, driven by a particularly strong performance in TradePro. We remain on track for the full year and are well positioned for 2025 and beyond.”
