Wickes has posted an improved second-quarter performance with like-for-like sales up 3% compared with a 1.8% fall for the first quarter, as it maintained its full-year guidance.
The home-improvement retailer also has launched a £25m share buyback programme to return “surplus cash” to shareholders, based on its strong balance sheet and business performance.
Chief executive David Wood said its strong performance was “underpinned by further momentum in Trade, as local traders continue to turn to Wickes to save them time and money, an improving trend in DIY, and a good performance in Do-It-For-Me.”
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Core life-for-likes sales were ahead by 2.3% in the second quarter, with categories such as decorative and construction performing well and outdoor projects benefiting from a normalisation of weather patterns.
The business said click and collect sales also “performed particularly well”, growing by 5.6%, reflecting the service improvements made to its proposition.
Wood added: “As we continue to make progress across our strategic growth drivers, we are confident in the Group’s prospects for both the remainder of this year and the longer term.”
Earlier this month the retailer faced a boycott after its chief operating officer Fraser Longden said shoppers with trans-critical views are “bigots” who “are not welcome in our stores”.
Speaking at Pink News’ Trans Summit, Fraser Longden said: “I don’t think I’m ever going to change some of the bigots out there’s minds, I’m never going to win that argument with them.”
He claimed most of the population was “sort of slightly ignorant but mostly kind” when responding to a question on last year’s attempt of a boycott by campaigners surrounding Wickes’ Brighton Pride float.
Longden’s comments caused an angry backlash online, with #boycottWickes trending on Twitter.
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