Wickes third quarter sales dip as the DIY boom slows

DIY retailer Wickes has said it performed well in its third quarter despite sales in its core category dipping
"We are well-placed within a large and growing home improvement market, and look to the future with confidence." : David Wood.
// Wickes says the outlook for full-year adjusted pre-tax profit remains in line with its expectations despite sales dip
// Total like-for-like sales fell 1.6% compared last year which benefitted from an uptick in DIY due to Covid

DIY retailer Wickes has said it performed well in its third quarter despite sales in its core category dipping due to tough comparatives in the same period last year.

In the 13 weeks to September 25, total like-for-like sales fell 1.6 per cent compared to 2020, which benefitted from an uptick in DIY due to Covid restrictions.

On a two-year basis, however, sales were 16.3 per cent higher.


READ MORE: Wickes lifts profit outlook as demand for DIY continues


While core like-for-likes declined by 2.3% year-on-year, the retailer said the category’s sales were supported by a strong performance in local trade where home renovations continued to drive robust order books for Wickes’ trade customers.

In addition, the company said its operational strengths meant supply shortages had no material impact on sales in the period.

Wickes said the outlook for full-year adjusted pre-tax profit remains in line with its expectations and the guidance given at the interim results.

The company said in September that it expects adjusted pre-tax profit to come in towards the upper end of analyst expectations of between £67 million and £75 million, assuming no further significant changes due to Covid disruption.

Wickes chief executive David Wood 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. I would like to thank all of my colleagues for their hard work and support as we continue to help the nation feel house proud.”

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