Wickes like-for-like 0.8 per cent up in first half of 2022

Wickes has reported second-quarter LFL sales growth of 5.4 per cent, while core LFL sales for the second quarter of 2022 were down by -0.2 per cent. The first-half core LFL sales were down by -5.5 per cent but remained significantly ahead on a three-year basis. One reason for the relatively good trend, according to the UK home improvement company, was progress in both core revenue and delivered DIFM performance, resulting in total like-for-like sales in the first half that were up by 0.8 per cent relative to strong prior-year comparatives. DIFM LFL delivered sales in the first half were 29.7 per cent ahead on a one-year basis. The numbers are based on GfK GB PoS data.

Although local trade business continues to perform well, Wickes reports that signs of softening in DIY and DIFM markets have been observed in recent weeks.  “DIY sales remain below last year and although activity is ahead of pre-Covid levels, there have been signs of the market softening in recent weeks,“ the company writes in a report. David Wood, CEO of Wickes, commented: ”Our investment for growth progressed in the period, with five store refits completed in the first half which continue to drive strong returns. We remain watchful of the macroeconomic backdrop and are managing the business appropriately to navigate these external pressures.”