Wickes has reported an increase in core market share as it remains “on track to meet full-year expectations”.
In a trading update for the 13 weeks to September 30, 2023, Wickes posted a growth of 1.1% in like-for-like sales, representing a growth in volume for the first time since the second quarter of 2021.
Sales of Wickes’ Do It For Me (DIFM) range were down 4.4% during the same period “as customers are taking longer to commit to big-ticket purchases”.
The retailer said it remains comfortable with the current market consensus to deliver an adjusted profit before tax between £45.3m and £49m, based on trading to the end of October.
Chief executive David Wood said: “Once again, thanks to our amazing colleagues, we have delivered a solid performance in a challenging market as we continue to deliver against our strategic growth drivers.
“In our core business, we have gained further market share and achieved a return to volume growth. We have fulfilled strong demand from our trade customers and been encouraged by greater stability in DIY.
”As we continue to roll out our programme of store openings and refits, I am confident that we have the right product offer and the most attractive locations, enabling us to deliver value for customers and shareholders.”
No comments yet