Wickes Group (LON: WIX), the UK home improvement retailer, said retail sales rose 6.0% in the third quarter, with like-for-like growth of 5.6%. The update said the company is on track to meet market expectations for full-year profit rather than raising them.
The shares closed yesterday at 215.5p, up 1.17% from 213.0p on Friday. That is about 22% above their level on the 14th of September and near the top of their six-month range. So far today, the stock is up over 3% at 226p.
Group revenue for the 13 weeks to the 26th of September grew 4.5% to £439m, with like-for-like sales, which exclude new openings, up 4.0%. Retail revenue reached £331m.
Growth was volume-led. Sales through TradePro, the scheme for local trade professionals, rose 8%, DIY grew mid-single-digit, and mild price inflation is starting after a long spell of deflation.
Design & Installation, which sells kitchens and bathrooms with fitting, was flat, with revenue of £108m, up 0.3%. Customers buying Bespoke Kitchens, made-to-order higher-priced ranges, are being more considered on larger purchases, and ordered sales by value were below last year. Big-ticket demand therefore remains weak.
Retail, by contrast, has accelerated through the year:
| Measure | Q1 | Q2 | Q3 |
|---|---|---|---|
| Retail revenue growth | -0.4% | 1.8% | 6.0% |
| Retail like-for-like | -1.7% | 0.7% | 5.6% |
| Group like-for-like | 0.3% | 1.0% | 4.0% |
Retail like-for-like sales are up 11.5% over two years, the company said.
Chief Executive David Wood pointed to share gains:
We’ve delivered a strong third quarter, with growth accelerating across Retail as more customers choose Wickes for their home improvement projects. Our continued market share gains demonstrate the strength of our value-led proposition and our ability to outperform in a competitive market. With good momentum across the business, we remain on track to deliver market expectations for full-year profit.
David Wood, Chief Executive, Wickes
That expectation is consensus adjusted profit before tax of £54.7m, the analyst average as at the 7th of October, which implies growth of about 10%. Forecasts range from £52.8m to £56.0m, and the statement gives no margin figure. The next update is due in late January 2027.