Wickes stagnant in third quarter of 2022

Sales at UK home improvement retailer Wickes stagnated at 0.0 per cent growth in the third quarter of 2022. The company also announced that like-for-like sales grew by 2.6 per cent, while DIFM (do-it-for-me) sales increased by 12.2 per cent. In the previous quarters one and two, sales had declined by 11.0 and 0.2 per cent respectively.

The figures look better in a 3-year comparison. Compared with the third quarter of 2019, sales increased by 27.3 per cent and by 19.2 per cent on a like-for-like basis.

According to a company statement, there has been some moderation in the rate of retail price inflation since the first half, aided by reductions in the cost of timber.

During the third quarter, Wickes completed 3 refits and rolled out a 30-minute click & collect service nationally. On 7 October, the company opened a new store in Bolton, with more new store openings in the pipeline for 2023.