Wickes has backed its full-year profit guidance despite warning trading remains “uncertain” as it posted a drop in first quarter sales.
Group like-for-likes for the home improvement retailer fell 4.2% in the 16 weeks to 20 April.
Retail sales edged up 0.6% during the period, which the retailer said was driven by volume with an increased number of transactions as selling prices saw “mild deflation”.
Wickes said the start of the year has seen a “continuation of trends”, with sales of its lower-priced Lifestyle Kitchens range up 25% year-on-year.
The retailer reported its design and installation arm sales were down by 18.2% as it noted demand for larger ticket purchases remains “challenging”.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
Despite DIY sales remaining in “moderate decline”, first quarter sales for interior paint jumped 13% which the retailer attributed to customers’ continued enthusiasm for home improvements and “smaller projects”.
Wickes chief executive David Wood said: “In the first few weeks of 2024 we have been encouraged that DIYers and local trade professionals continue to turn to Wickes as a brand they trust for great value and service and as a result we have once again grown market share.
“Although the market for larger ticket items remains subdued, we have seen strong sales growth in our Wickes Lifestyle Kitchens, which match customer demand for quality with great value.
“While the external environment remains uncertain, our overall profit expectations for the full year remain unchanged.
“Looking ahead, we continue to invest for future growth with our programme of store refits, new store openings and investment in both technology and Solar Fast, building an even stronger Wickes for the future.”
Click here to sign up to Retail Gazette‘s free daily email newsletter
