Wickes has released its trading results for the first four months of the year, reporting a significant decline in its design and installation sales, despite a huge boost to affordable flat-pack kitchen sales.
According to the national home improvement retailer, completed design and install orders were down by around 18% compared to this time in 2023, which Wickes attributed to “a particularly strong performance in the comparative period for the prior year”.
However, the company also reported a significant 25% increase in its sale of its lower-priced flat pack Wickes Lifestyle Kitchens, compared to the same period last year.
In total, the retailer has also seen a slight decline of over 4% in its total overall like-for-like sales, when compared with last year.
However, like-for-like sales rose marginally this quarter, with an increase of 0.6% compared to the previous financial period. This marks the company’s fourth consecutive quarter of positive like-for-like growth. Wickes has also reported an increase in its total number of sales transactions and volumes.
Interestingly, Wickes has noticed that its sales of DIY materials continue to be in “moderate decline”. It believes that customers are still interested in DIY sales, but are more focused in smaller projects at this time.
In addition, Wickes’ TradePro sales are also up by 12%, which Wickes says reflects healthy growth in its customer base, which has reportedly increased by over 57,000 members so far this year. The company’s decorative sales also showed strong growth, having increased by 13% year-on-year.
Wickes’ chief executive officer, David Wood, commented: “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.”
Reporting on its 2023 end-of-year sales results in March, Wickes closed the 2023 financial year with a revenue of £1.55 billion, which was only a marginal decrease over its 2022 revenue of £1.56bn. The national retailer was also named the UK’s “most prominent bathroom brand” for 2023 in a report conducted by Salience Search marketing.
