UK's Wickes retail sales drop marginally as rain dampens outdoor furnishing demand
12/05/2026 09:20
May 12 (Reuters) - British home improvement retailer Wickes' WIX.L retail revenue dropped slightly in the 17 weeks to April 25, it said on Tuesday, as unusually heavy rainfall hit demand for outdoor projects. Wickes shares were down more than 10% at 182 pence, as of 0800 GMT, making it the biggest loser on the FTSE 250 midcap index .FTMC, which was down 1.3%. High interest rates, soft housing demand, and geopolitical uncertainty are denting consumer confidence and home‑related spending, but the company reiterated its annual profit forecast and said it expects retail to return to growth. Here are some more details from the company: Wickes said it was comfortable with market expectations for 2026 adjusted pretax profit, citing productivity initiatives, lower business rates, and continued investment in store openings and refurbishments. Company‑compiled consensus puts 2026 adjusted pretax profit at 54 million pounds ($72.98 million) to 59.4 million pounds. Retail revenue, which accounts for over 70% of group sales, fell 0.4% to 392 million pounds. Overall revenue rose 1.3% to 537 million pounds in the period. Investec analysts called this "a far from ideal start to year". ($1 = 0.7399 pounds) (Reporting by Neeshita Beura and Ankita Bora in Bengaluru; Editing by Harikrishnan Nair) ((Neeshita.Beura@thomsonreuters.com))