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Wickes sounds note of caution with softening sales and worrying outlook

Wickes posts growth in first half but cautious of softening sales and worrying outlook

Home improvement giant Wickes registered strong sales for the first half of 2022, but has reined in its expectations for the second half due to economic uncertainty.

The Northampton-based company had sales growth of 5.5 per cent in the first six months of this year, with progress in its score revenue and ‘Do It For Me’ arm, which offers an end-to-end service on items like kitchen installations.

Wickes outlined that while its local trade was still going strongly, with its total like-for-like sales growth at 0.8 per cent, there were signs of softening DIY and DIFM markets, in part due to the cost of living crisis.

It registered an increase in its customer base when it came to Local Trade sales, up 60,000 to 690,000, though DIY sales remain below the same period last year.

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Wickes sounds note of caution with softening sales and worrying outlook