Wickes retail sales

Wickes reported a mixed performance for the first half of 2024, with retail revenue increasing by 1% to £633.2 million and like-for-like retail sales up 0.6%. However, the company's design and installation revenue plummeted by 17% to £166.7 million due to a soft consumer appetite for larger purchases, leading to a 3.4% decline in overall group revenue to £799.9 million. The TradePro scheme showed strong momentum, with a 14% increase in sales and an 18% rise in active members year-on-year. Despite the challenges, Wickes has maintained its outlook for adjusted profit before tax for 2024. The recent acquisition of a 51% stake in Solar Fast is expected to enhance its service offerings, with point-of-sale assets already rolled out in several stores. CEO David Wood emphasized the company's value proposition for both DIYers and trade professionals amidst a difficult trading environment.