- Wickes Group
- 12 May 2026 11:39:38
Source: Sharecast
Updating on trading in the 17 weeks to 25 April - which included the long Easter weekend, a key time of the year for many DIY retailers - Wickes said group revenues had risen 1.3% to £537m, but fallen 0.1% on a like-for-like basis.
Within that, design and installation sales rose 4.3% to £145m. But in retail, its largest unit, they fell 1.7% to £392m, after "exceptional rainfall" weighed on demand for outdoor projects.
It also noted that while the number of overall design and installation projects in 2026 so far had grown, orders for bespoke kitchens had slowed, "as customers are being more considered in their overall project spend. Ordered sales by value for the period were therefore slightly lower than in the same period last year."
The chain, which had 230 right-sized stores, said it remained "comfortable" with market forecasts for full-year adjusted pre-tax profits ranging from £54m and £59.4m. It also reiterated plans to accelerate investment in its store rollout strategy, and flagged ongoing demand from trade customers. TradePro sales rose 4% year-on-year during the period.
However, that did not stop the shares falling sharply in morning trading, and by 1100 BST the stock had tumbled 12% to 178.84p.
David Wood, chief executive, said: "We are pleased to have achieved further volume growth in the first 17 weeks of the year. Our proven growth strategy gives us added confidence as we accelerate our new store rollout and refresh programme."
Shore Capital, which has a ‘buy’ rating on the stock, said: "Despite the softer sales, we are pleased to see that management remain comfortable with consensus.
"While concerns around a softer market may lead to some weakness today, we still see the opportunity for ongoing growth via continued market shares gain in the medium term."
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