Wickes sales surge as Design & Installation growth strengthens in Q3

Investing.com -- Wickes Group PLC (LON:WIX) on Thursday reported strong third-quarter results with overall revenue increasing 6.9% YoY to £420.1 million, driven by volume growth across all business segments.

The home improvement retailer saw its Design & Installation division accelerate to 7.8% revenue growth while Retail sales rose 6.7% compared to the same period last year.

The company’s shares edged up 0.6% following the announcement as investors responded positively to the continued sales momentum and market share gains.

"This has been another strong period for Wickes, with sales driven by an increase in volumes," said David Wood, Chief Executive of Wickes. "Within Retail, our continued outperformance has seen us take further market share. In Design and Installation, the changes made to our offer are showing through in increased demand and ongoing momentum."

The company’s TradePro segment performed particularly well with sales up 8% YoY, supported by an increase in active members to 632,000. DIY sales also showed mid-single digit growth driven by increasing customer transactions. The Design & Installation division delivered its fourth consecutive quarter of order growth and second quarter of positive like-for-like delivered sales growth.

Digital initiatives continued to drive sales, with Click & Collect sales rising 18% YoY after the company reduced collection times from 30 to 15 minutes. Wickes also launched its nationwide Wickes Rapid service, offering deliveries of up to 800kg within three hours.

The company opened two new stores during the quarter in Bury St Edmunds and Dunfermline, with two more planned for Q4. Management confirmed they remain comfortable with current market expectations for 2025 adjusted profit before tax, which analyst consensus places at £48.3 million.

Year-to-date, Wickes has achieved 6% revenue growth to £1.27 billion, with like-for-like revenue up 5% across the group.