UK's Wickes targets 300 stores nationwide, as profit beats expectations (updated)
17/03/2026 07:23
Adds details in pargaraph 2-4 March 17 (Reuters) - British retailer Wickes WIX.L on Tuesday said it would accelerate investment in new stores with a target to reach 300 locations nationwide, as it posted an annual profit above market expectations. The company's store investment programme has paid off, with five new stores opened and 11 refits completed in 2025, prompting Wickes to scale beyond its current 230-store network and create over 2,000 new jobs as it targets underserved towns and cities. Despite the sector suffering from a lukewarm consumer sentiment and challenging macroeconomic environment, Wickes has widened its offerings to cater to its clientele of tradespeople and homeowners. The retailer, which provides bathroom and kitchen fittings, among other home installations, said outdoor project demand in the first 11 weeks of 2026 was impacted by wet weather, while indoor projects showed continued volume growth The company posted adjusted pretax profit of 49.9 million pounds ($66.32 million) for the year ended December 27, above the average analysts' expectations of 48.2 million pounds, as per a company-compiled poll. ($1 = 0.7524 pounds) (Reporting by Simone Lobo and Yamini Kalia in Bengaluru; Editing by Nivedita Bhattacharjee) ((Simone.Lobo@thomsonreuters.com, +919920570373))