Wickes reports faster sales growth as price inflation returns

Summarised from Independent Business's report · Updated 20 Oct, 11:44 · Archive

Home improvement retailer Wickes reported accelerating sales growth for the latest quarter as prices began rising again.

Home improvement retailer Wickes reported total group sales grew 4.5% to £439 million for the three months to September 26, accelerating from 2.3% growth in the previous quarter. Retail sales jumped 6% to £331 million for the quarter. The company said customer growth was driven by stronger volumes and reported that 'mild' price inflation is 'starting to come through' after a sustained period of easing prices.

Wickes said it is outperforming the wider market on the back of strength in timber, flooring, roofing and garden products. The TradePro business, which connects customers with tradespeople, reported an 8% increase in sales. The retailer opened two new stores during the quarter, in Saffron Walden, Essex, and Colne, Lancashire, alongside three store refits. Chief executive David Wood said the group remains on track to deliver market expectations for full-year profit.

Read the report

• Wickes reveals faster sales growth amid ‘mild’ price inflationChief executive David Wood said the group is on track to meet profit guidance for the year.Independent Business · 20 Oct, 08:21

In this story: Wickes · David Wood · Saffron Walden · Essex · Colne · Lancashire

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