Wickes retail sales return to growth has stores Cheltenham Gloucester Cirencester
Summary
Wickes’ retail division returned to growth in its second quarter. The home improvement retailer, which has stores in Cheltenham, Gloucester and Cirencester, recorded a 0.9% increase in group like-for-like sales for the 13 weeks to June 27, as reported by Retail Gazette. Retail revenue rose 1.8% to £366m following a 0.4% dip in the first quarter.
Details
Like-for-like sales were up 0.6%. Retail like-for-like sales were up 8.5% on a two-year basis, with Wickes reporting that it was continuing to gain market share. TradePro helped group revenue increase by 2.3% to £483m, as it saw sales up 6% year on year and active membership of the trade loyalty scheme rise by 9% to 671,000.
Click-and-collect and home delivery sales were up 7%, as Wickes continued to invest in faster and more convenient fulfilment. Sales of the retailer’s design and installation ranges increased 3.8% to £117m, with like-for-like sales up 1.8%. For the first half of the year, Wickes reported a rise in group revenue of 2.1% to £865m, with like-for-like sales up 0.6%.
The retailer expects full-year adjusted pre-tax profit in the range of £52.8m to £58m.
Report source: Punchline Gloucester