Woodie's with weak H1 2022 but up 26 per cent on 2019

Woodie's DIY, Home and Garden has suffered heavy losses in the first half of 2022. The company, which operates in Northern Ireland, says sales fell 22.8 per cent year-on-year to GBP 118.9 mio (approx. EUR 139.5 mio). In the first half of 2021, turnover has still been at GPB 158.4 mio (approx. EUR 185.9 mio). Even adjusted for exchange rate effects, turnover fell 2022 by 22.8 per cent.

The 2022 decline was preceded by an exceptionally strong currency-adjusted revenue increase of 62.2 per cent in the first half of 2021, putting the recent decline into stark perspective. This was partly because the company was able to keep its stores open despite a lockdown in the first months of 2021, as it was classified as an essential retailer. Even compared to pre-pandemic levels in the first half of 2019, 2022 sales remained 25.6 per cent higher.

As the Grafton Group company writes, "demand was elevated across all DIY, home and garden categories and while strong gains were preserved in the first half of this year compared to 2019, most product categories declined to more normalised levels. The fall in revenue was reflected in a lower number of transactions and a small decline in the average basket value that was partly offset by inflation. Customers purchased fewer higher value seasonal products including garden furniture and lawn mowers compared to last year."

On its digital platform, Woodie's increased sales by 68.5 per cent in the first half of 2022 compared to 2019. Two thirds of online orders are now being fulfilled through the stores, according to a company's press release.