26th May 2022 14:35
(Alliance News) - Wickes Group PLC on Thursday reaffirmed its full-year guidance as sales figures climbed compared to pre-pandemic trading.
The Watford, England-based DIY retailer said that like-for-like sales for the 20 weeks to May 21 were down 0.6% compared to last year.
Core like-for-like sales, which reflect demand in local trade, were down 7.2% during the period. Meanwhile, 'Do It From Me' sales were up 31%.
On a three-year comparison basis, which compares the 20-week results with the pre-Covid-19 period, total group sales are up 22%.
Looking ahead, Wickes said it remains mindful of rising inflation, which it is currently managing while maintaining a "leading price position".
Chief Executive David Wood said: "Our growth levers are delivering strong returns and we are excited about our plans to optimise our store estate with refits and new stores. Looking ahead, while we remain mindful of the uncertain macroeconomic environment, we continue to be confident of the opportunities available to Wickes within the large and growing home improvement market."
Shares in Wickes were up 2.1% at 197.30 pence each in London on Thursday mid-afternoon.
By Sophie Rose; [email protected]
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