Wickes looks to optimise store estate with refits and new openings

Home improvement retailer Wickes has reported a reduction in sales but ahead against pre-lockdown levels.

The DIY retailer said like-for-like sales fell 0.6% during the first 20 weeks of the year, compared to the same period, with core like-for-like sales down 7.2%. Do-it-for-me (DIFM) sales did increase by 30.9%.

On a three-year basis, which compares with the pre-Covid period, total group sales were 22.4% ahead.

Wickes added that it plans to optimise its store estate with refits and new stores to further grow its market share.

David Wood, CEO of Wickes, commented: “I am delighted to report continued momentum, and a promising start to the year where we continue to take market share. This performance is testament to the strength of our uniquely balanced business – across Trade, DIY and DIFM – and it has been achieved against strong prior year comparatives. I am particularly proud of our long-term performance, with sales remaining significantly ahead of pre-lockdown levels.

“Our focus remains on providing our customers with the products and services they need at great value. Our commitment to exceptional value has proven particularly effective amongst our local trade customer base, who continue to turn to us at a time when their own order books are at record levels.

“Our growth levers are delivering strong returns and we are excited about our plans to optimise our store estate with refits and new stores. Looking ahead, while we remain mindful of the uncertain macroeconomic environment, we continue to be confident of the opportunities available to Wickes within the large and growing home improvement market.”

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