Wickes has reported a slip in third-quarter sales against strong comparatives, but sales rose strongly on a two-year basis.
Wickes recorded a 1.6% decline in sales in the 13 weeks to September 25, up 16.3% on a two-year basis.
The DIY retailer’s delivered a 2.3% fall in core sales during the period year-on-year, up 27.4% on 2019 levels and “supported by strong performance in local trade, where home renovations continue to drive robust order books”.
The retailer’s do-it-for-me division registered a 0.7% uplift during the quarter, ahead of two-year comparatives which registered a 12.4% decline.
Wickes attributed this year-on-year uplift to “extended project completion lead times”, which it said will result in a higher carry over of orders into next year.
The retailer said that although it had registered an uplift in price inflation, the retailer’s “operational strengths meant supply shortages had no material impact on sales in the period.”
Home improvement continues to grow
Wickes said it would manage price inflation “by focusing on cash margin recovery while maintaining our leading price position.”
The retailer said that its full-year guidance remains in line those give at its interim results.
Chief executive David Woods said: “This resilient performance has been underpinned by our digitally-led and service-enabled customer proposition, while our agile business model has enabled us to continue to navigate inflationary pressures and raw material constraints well.
“We are well-placed within a large and growing home improvement market, and look to the future with confidence.”
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