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
