Home improvement chain Wickes has reported a 3.4% decrease in group sales in the first half of the year, with revenue dropping to £799.9m.
In a trading update for the six months to 29 June 2024, the company said that revenue from design and installation was down 17%, reflecting a “continued soft consumer appetite for larger ticket purchases” as well as a strong first half in 2023. Its lower-priced kitchen range continued to perform well, sales up 18.8%.
Retail sales showed resilience, with revenue growth of 1.0%. This was driven by volume, with selling price deflation of around 3%.
Wickes’ trade membership scheme TradePro registered a 14% increase in sales in the first half and the number of active TradePro members grew by 18% year-on-year to 541,000. Meanwhile, DIY sales showed a moderate decline as customers focused on smaller projects.
In May, Wickes acquired a majority stake in solar panel installer Solar Fast and the company has now rolled out Solar Fast sales points in 50 stores and on the Wickes website.
“Against a challenging trading backdrop, we have grown volume and taken further market share in Retail, with our TradePro scheme continuing to show strong momentum as local trade professionals turn to Wickes to save them time and money,” said David Wood, chief executive of Wickes.
“We’re seeing good demand for our lower-priced Wickes Lifestyle Kitchens, reflecting customers’ desire for quality and value.
“We continue to invest in our growth levers and are particularly excited about the recent acquisition of Solar Fast.”
