Consumer spend on new kitchens and bathrooms has helped Wickes experience a leap in sales as homeowners with fewer leisure options focussed on home improvement during the pandemic.
The company experienced a 45.7% jump in sales for the 21 weeks to 22nd May against the same period last year, with a 23.1% rise against the same period in 2019 before the impact of COVID-19, the DIY giant revealed. It is now anticipating higher revenue growth to come from kitchen and bathroom orders, which Wickes said has been boosted by the reopening of its Do It For Me (DIFM) showrooms in line with relaxed lockdown measures on 12th April.
The company said: “Trading was notably strong through April, driven by sales volumes in both local trade and DIY and continued to be underpinned by our digital capability." It added that May sales have settled back in line with expectations.
Chief executive David Wood said: “Availability constraints and inflationary pressures across some raw materials have been well-flagged, but we have strong supplier relationships and are working closely with them to ensure we continue to provide customers with the products they need at the best possible value.”
Wickes added that it expects a pre-tax profit for its first half of the year of around £45 million, and is predicting a full-year profit in the top half of its £55 million to £74 million target range.