Wickes reports a noteworthy rise in third quarter sales.
- The sales increase is driven by pent-up customer demand.
- Outdoor projects previously delayed impact sales figures.
- Retail sales grow significantly by 4.7% to highlight market strength.
- TradePro offerings propel impressive 16% sales growth.
Wickes has experienced a substantial increase in third quarter sales, underscoring the activity in home and DIY projects. The retailer’s sales rose by 2.1% to reach £391.3 million for the 13 weeks leading up to September 28, 2024. This growth is attributed to customers who are catching up on summer projects initially postponed due to adverse weather conditions in spring and early summer.
The reported data shows that Wickes’ retail sales have surged by 4.7%, achieving £312.1 million. This rise is indicative of a robust market response, with a particular emphasis on outdoor home improvement projects. According to Wickes, this growth was driven by their focus on addressing customer demands which have been pent up due to earlier delays.
Wickes’ TradePro services have played a crucial role in their success this quarter. Sales through this offering have skyrocketed by 16% over the quarter, highlighting a strong performance in the professional sector. David Wood, the chief executive, notes that customer satisfaction with value and service continues to bring home improvers back to Wickes.
However, not all areas showed growth. The Design and Installation sales saw a decline of 7.1% to £79.2 million. Despite a lower ordered sales figure compared to last year, recent weeks have seen stabilization in this segment. Wickes remains optimistic, as the overall retail performance indicates increasing volumes and a growing market share.
Despite the challenges faced earlier in the year, Wickes remains confident about the path ahead. David Wood expressed, “We remain on track for the full year and are well positioned for 2025 and beyond.” The continuing evolution of their retail and TradePro offerings positions them to adapt effectively to market demands.
Wickes’ strategic focus on retail growth and TradePro offerings positions them strongly for future market challenges.
