Wickes (LON: WIX) shares rose more than 6% in early Tuesday trading after the home improvement retailer reported a strong start to the year.
The company reported group revenue up 6.9% year-on-year to £533.1 million in the 17 weeks to 26 April 2025.
Retail sales led the performance, rising 9.6% to £396.7 million, driven entirely by volume growth, with the company noting “deflation close to zero.”
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Wickes highlighted strong market share gains, particularly in building, garden and decorating categories.
TradePro sales were up 13%, with active members growing 14% to 605,000, while DIY sales also increased year-on-year.
Chief Executive David Wood said: “This has been a strong start to the new financial year, with the further increase in sales driven exclusively by volume growth, as more customers shop with us.”
The Design & Installation division saw continued growth in ordered sales, though delivered revenue was broadly flat, down 0.4% year-on-year to £136.4 million, reflecting the lag between order and fulfilment.
The company credited recent improvements in customer experience for the momentum in the segment.
Wickes also confirmed it remains “comfortable with current consensus expectations” for full-year adjusted profit before tax, despite a challenging consumer backdrop and ongoing cost pressures.
First-half trading results are expected in late July.
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YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
