REG - Wickes Group PLC - Trading Statement

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RNS Number : 8649D  Wickes Group PLC  12 May 2026

 

12 May 2026

 

Wickes Group plc - Trading Update for the 17 weeks to 25 April 2026

 

Continued growth in revenue, driven by Design & Installation and TradePro

 Comfortable with market forecasts for 2026 adjusted PBT

 

The start of 2026 has seen Wickes deliver 1.3% revenue growth, driven by
continued volume growth in Design & Installation and TradePro.

 

                                                          17 weeks to 25 April 2026(3)
 Retail(1)                            Revenue             £392m
                                      Revenue growth      (0.4)%
                                      LFL revenue growth  (1.7)%
 Design & Installation Ranges(2)      Revenue             £145m
                                      Revenue growth      6.4%
                                      LFL revenue growth  4.3%
 Group                                Revenue             £537m

                                      Revenue growth      1.3%
                                      LFL revenue growth  (0.1)%

 

Retail revenues were broadly maintained year-on-year, despite, as previously
highlighted, market demand for outdoor projects having been significantly
impacted by exceptional rainfall, compared to more favourable conditions last
year. On a two-year basis, Retail revenue increased by 8.9%. Sales from indoor
projects remained in growth during the period, approximately eight percentage
points ahead of outdoor categories.

 

We continued to deliver overall volume growth in Retail as our prices have
remained deflationary, in low single digits. Further market outperformance has
led to continued market share growth, with particular gains in interior paint,
tiling & flooring and timber.

 

Within Retail, TradePro continued to perform well, with sales up 4%
year-on-year, as local trade professionals continue to choose Wickes to save
them time and money.  Active TradePro members(4) increased by 9% year-on-year
to 662,000. DIY sales in particular reflected the weather pattern noted above.
 

 

Customers continue to react positively to our enhanced Design &
Installation proposition.  Delivered sales(5) have now been in positive
growth for four consecutive quarters, as we fulfil the order book built during
2025.

 

So far in 2026 we have grown the number of Design & Installation projects
ordered.  We have seen strong growth in bathrooms and Wickes Lifestyle
Kitchens, whilst orders for Bespoke Kitchens have slowed, as customers are
being more considered in their overall project spend. Ordered sales(6) by
value for the period were therefore slightly lower than in the same period
last year.

 

As announced at our recent full year results, we are accelerating investment
in our new store rollout strategy, with an ambition to reach 300 stores. We
are in the process of securing our future property pipeline, having already
identified the optimal locations.  For 2026 we expect to open 4-5 new stores
and to refit or refresh 15-20 stores. During the period we refreshed three
stores.

 

Investment in our proven growth levers positions us well for 2026 and beyond.
Whilst the market environment remains uncertain, our value-led business model
leaves us well-positioned and we expect Retail sales to return to growth. We
have a good productivity plan in place and will additionally benefit from
lower business rates following the latest revaluation. As such we remain
comfortable with consensus expectations(7) for adjusted PBT for 2026.

 

David Wood, Chief Executive of Wickes, commented:

 

"We are pleased to have achieved further volume growth in the first 17 weeks
of the year.  TradePro continues to go from strength to strength, while the
performance in Design & Installation is testament to our broadened offer
across kitchens and bathrooms. Our proven growth strategy gives us added
confidence as we accelerate our new store rollout and refresh programme."

 

Enquiries

 Investors and Analysts                                             Media

 Holly Grainger                                                     Lucy Legh, Will Smith, Eleanor Evans

 Director of Investor Relations                                     PR Advisers to Wickes

 +44 (0)7341 680426                                                 +44 (0)203 805 4822

 holly.grainger@wickes.co.uk (mailto:holly.grainger@wickes.co.uk)   wickes@headlandconsultancy.com (mailto:wickes@headlandconsultancy.com)

 

About Wickes

 

Wickes is a digitally-led, service-enabled home improvement retailer,
delivering choice, convenience, value and best-in-class service to customers
across the United Kingdom, making it well placed to outperform its growing
markets. In response to gradual structural shifts in its markets over recent
years, Wickes has a balanced business focusing on three key customer journeys
- TradePro, DIY (together reported as Retail) and our project-based Design
& Installation division.

 

Wickes operates from its network of 230 right-sized stores, which support
nationwide fulfilment from convenient locations throughout the United Kingdom,
and through its digital channels including its website, TradePro mobile app
for trade members, and Wickes DIY app. These digital channels allow customers
to research and order an extended range of Wickes products and services,
arrange virtual and in-person design consultations, and organise convenient
Home Delivery or Click-and-Collect.

 

Footnotes

 

1) Retail revenue relates to all products and related delivery income sold to
customers (both DIY and local trade), in stores or online, excluding those
reported as Design & Installation Ranges.

2) Design & Installation Ranges revenue includes all product categories
which could be sold as part of a design and/or installation and where the
majority of sales of those products are designed and/or installed.  This
relates principally to projects such as kitchens and bathrooms, sold by our
Design Consultants, as well as Wickes Solar.  Revenue is recognised when
delivery and installation (where applicable) is complete.  Design &
Installation Ranges includes Wickes Solar from 21 May 2024 onwards.

3) Year-on-year growth percentages are based on revised prior-year comparative
figures, ensuring a consistent comparison with the current period.

4) TradePro members deemed 'active' are those who have shopped with us in the
last 12 months.

5) Delivered sales refers to the revenue which is recognised when the Group
has satisfied its performance obligation to the customer and the customer has
obtained control of the goods or services being transferred.

6) Ordered sales refers to the value of orders at the point when the order has
been placed.

7) As at 8 May 2026, consensus complied from all 11 covering analysts is for
adjusted PBT in 2026 of a mean of £57.1m, with a range of £54.0m-£59.4m.

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