Wickes Group plc has announced a strong start to the 2025 financial year, delivering a 6.9% year-on-year revenue increase in the first 17 weeks to 26 April. The performance was led by a 9.6% rise in Retail revenue, driven by volume growth and strong category performance in building, garden and decorating.
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Chief Executive David Wood commented:
'This has been a strong start to the new financial year, with the further increase in sales driven exclusively by volume growth, as more customers shop with us. Within Retail, we have gone from strength to strength. We have taken further market share and seen a very good market outperformance in timber, hardware, decor and garden. In Design & Installation, we are benefitting from the actions taken to enhance the Wickes offer. This is a segment demonstrating real momentum, with a second quarter in a row of ordered sales growth. While we continue to be mindful of consumer sentiment and a challenging external environment, we have a strong platform in place and we are well set to continue delivering against our strategy.'
Key Highlights (17 weeks to 26 April 2025):
- Group revenue: £533.1m (+6.9%)
- Retail revenue: £396.7m (+9.6%), with LFL growth of 9.2%
- Design & Installation revenue: £136.4m (–0.4%), LFL –4.2%
- Group LFL growth: 5.5%
Retail performance was fuelled by volume-led growth, with deflation close to zero. TradePro continued its upward trajectory with 13% year-on-year sales growth and active membership rising 14% to 605,000. DIY sales also increased, driven by a higher number of transactions. Wickes capitalised on warmer weather to drive seasonal sales, reporting its biggest ever week for compost and topsoil during the early May bank holiday.
In Design & Installation, Wickes delivered another quarter of ordered sales growth, supported by improvements made to the customer proposition throughout 2024. While delivered revenue was broadly flat due to lag between ordering and delivery, underlying demand remains positive. Solar Fast, acquired in 2024, contributed to the year-on-year stabilisation of the D&I segment.
Wickes continues to invest in strategic growth initiatives. The company has begun converting four former Homebase sites, aiming to open 5–7 new stores in 2025. Three additional stores have already been refitted, bringing the total of new-format stores to 80% of the estate. In parallel, Wickes is increasing investment in technology to enhance customer experience and support productivity improvements.
Despite a challenging macroeconomic outlook, Wickes confirmed it remains on track to meet consensus expectations for 2025 adjusted profit before tax. As of 1 May 2025, consensus forecasts stand at £47.7m, within a range of £45.6m to £51.0m.
Wickes will publish its H1 2025 trading update in late July.
More information:
Wickes
www.wickesplc.co.uk