Wickes design and installation business “stabilising”

Despite challenging market conditions, DIY retailer Wickes has reported its design and installation business is stabilising, with like-for-like-sales decline slowing.

22 Oct, 24

Despite challenging market conditions, DIY retailer Wickes has reported its design and installation business is “stabilising”, with like-for-like-sales decline slowing.

Wickes design and installation business stabilising

In its latest trading update, Wickes Design & Installation like-for-like sales were down 13.3%, with revenue of £79.2million.

Although Wickes reported ordered sales in the third quarter were lower than the same period last year, they have been more stable.

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In the first quarter of 2024, like-for-like revenue of Design & Installation was down 17.6% and 18.9% in the second quarter, with a 4% dip in kitchen sales in the first half of the year.

The Design & Installation results now include a full quarter of Solar Fast sales.

Within Retail, TradePro sales were up 16% year-on-year in the quarter, with an 18% growth in active members year-on-year to 564,000.

Wickes reported 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 (an increase of 0.4% on a LFL sales basis).

The company has continued to invest in its store programme, with Aberdeen its third new unit this year and the retailer also refitted two further stores.

According to the company around 79% of its stores are now in the new format.

Chief executive of Wickes, David Wood commented: “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.”