// Wickes like-for-like sales fell 0.6% during the first 20 weeks of its financial year but soared against pre-Covid levels
// Shoppers are increasingly turning to tradesmen to carry out home improvement projects
Wickes has reported a slight sales dip compared to the Covid DIY boom, however revenue rocketed compared to pre-pandemic levels.
The DIY retailer said like-for-like sales fell 0.6% during the first 20 weeks of its financial year, compared to the same period 12 months ago.
On a three-year basis, which compares pre-Covid performance, like-for-likes jumped 20.5% in the first quarter.
Wickes said that although its core like-for-likes fell at the sharper rate of 7.2% against the previous year when shoppers engaged in lockdown DIY projects, do-it-for-me (DIFM) sales surged 30.9%, illustrating how shoppers are increasingly turning to tradesmen for home improvement work.
READ MORE: Wickes profits skyrocket in ‘year of excellent growth’
Wickes has added more than 40,000 new customers to its TradePro scheme in the year-to-date.
With the current inflationary pressures, Wickes said it was “managing this responsibly while maintaining our leading price position”.
Wickes boss David Wood said: “I am delighted to report continued momentum, and a promising start to the year where we continue to take market share.
“This performance is testament to the strength of our uniquely balanced business – across trade, DIY and DIFM – and it has been achieved against strong prior year comparatives.
“I am particularly proud of our long-term performance, with sales remaining significantly ahead of pre-lockdown levels.”
Wickes said it was confident of hitting full-year expectations.
Wood added: “Our growth levers are delivering strong returns and we are excited about our plans to optimise our store estate with refits and new stores.
“Looking ahead, while we remain mindful of the uncertain macroeconomic environment, we continue to be confident of the opportunities available to Wickes within the large and growing home improvement market.”
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