WICKES GROUP PLC: Trading Update (1622679)
May 03 2023 - 2:00AM
UK Regulatory
WICKES GROUP PLC (WIX) WICKES GROUP PLC: Trading Update
03-May-2023 / 07:00 GMT/BST
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3 May 2023
Wickes Group plc - Trading Update for the 16 weeks to 22
April
Performance in line with expectations, DIFM sales ahead of last
year
Wickes has made an encouraging start to the year with
performance in line with our expectations and the prior year. For
the first 16 weeks of the year, Group LFL sales were down (0.6)%.
Delivered DIFM sales were ahead by 9.3%, with Core LFL sales down
(3.6)%. Both periods include Easter trading.
Core sales have been affected by adverse weather in 2023 to
date, affecting outdoor and weather-related categories. Storms in
the prior year also drove significant sales uplifts in fencing in
the comparative period. Sales trends have improved towards the end
of the period as the weather has started to normalise.
Trade sales continue to perform well, reflecting healthy trade
order book pipelines, and our strategically important TradePro
customer base continues to grow strongly. DIY sales remain lower
year-on-year. Inflation remains mixed across categories but is
slowing overall, in line with our expectations.
DIFM delivered sales growth reflected the improved order
position during the fourth quarter of 2022, a good 2023 Winter
Sale, and continued normalisation of the order book as a result of
our increased installation capacity. Orders in the first 16 weeks
were up marginally year-on-year, with a reduction in leads more
than offset by an increase in conversion.
Costs remain well controlled, with savings flowing through as
expected in distribution, logistics and store operations. Four
refits have been completed in the year to date, with the first new
store this year at Chelmsford expected to open in the summer.
David Wood, CEO of Wickes, commented:
"This has been an encouraging start to the year where we have
again seen the benefits of our uniquely balanced business model
delivering well in a challenging economic environment. Our
performance has been underpinned by further momentum in Trade, as
local traders continue to turn to Wickes to save them time and
money, and a strong performance in Do-it-for-me. As we continue to
make progress across our strategic growth drivers, we are confident
in the Group's prospects for both the remainder of this year and
the long term."
Wickes Investor Relations Andy Hughes +44 (0) 7767 365360
investorrelations@wickes.co.uk Headland PR Adviser to Wickes
Lucy Legh, Will Smith +44 (0) 0203 805 4822
wickes@headlandconsultancy.com
About Wickes
Wickes is a digitally-led, service-enabled home improvement
retailer, delivering choice, convenience, value and best-in-class
service to customers across the United Kingdom making it well
placed to outperform its growing markets. In response to gradual
structural shifts in its markets over recent years, Wickes has a
balanced business focusing on three key customer journeys - Local
Trade, DIY (together "Core") and Do-it-for-me ("DIFM").
Wickes operates from its network of 230 right-sized stores,
which support nationwide fulfilment from convenient locations
throughout the United Kingdom, and through its digital channels
including its website, TradePro mobile app for trade members, and
Wickes DIY app. These digital channels allow customers to research
and order an extended range of Wickes products and services,
arrange virtual and in-person design consultations, and organise
convenient home delivery or click-and-collect.
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Group. The issuer is solely responsible for the content of this
announcement.
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ISIN: GB00BL6C2002
Category Code: QRF
TIDM: WIX
LEI Code: 213800IEX9ZXJRAOL133
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 240861
EQS News ID: 1622679
End of Announcement EQS News Service
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