Wickes Expands Store Format as Design & Installation Sales Begin to Stabilize
United Kingdom: Wickes, the DIY and home improvement retailer, reports that its Design & Installation business is stabilizing, with a slower decline in like-for-like sales, down 13.3% in Q3, generating £79.2 million ($86.26 million) in revenue. This follows steeper drops of 17.6% and 18.9% in the first and second quarters of 2024, with kitchen sales falling 4% in the first half. TradePro sales in Wickes’ Retail segment rose 16% year-on-year, with a notable 18% growth in active members, now totalling 564,000. Overall group revenue saw a 2.1% year-on-year increase (0.4% on a like-for-like basis), while DIY sales showed moderate declines as customers focused on smaller projects. Wickes has continued investing in its store program, opening a third new store in Aberdeen and refitting two more, bringing 79% of stores into the new format.
Source: KandB News