Wickes Q2 Sales Growth Reinforces Full-Year Outlook
Wickes reported a 2.3% rise in Q2 group revenue, with both Retail and Design & Installation posting like-for-like gains as the retailer maintained its forecast for adjusted pre-tax profit for FY26. Retail revenue climbed 1.8% to £366 million as higher customer numbers and volumes supported growth, while TradePro sales rose 6% and digital ordering rose 7% through click-and-collect and home delivery; like-for-like sales in Retail were up 0.6% and up 8.5% on a two-year basis. The Design & Installation arm grew for the fifth straight quarter, led by Lifestyle Kitchens and Bespoke Bathrooms, though demand for larger bespoke kitchens softened and ordered sales by value slightly declined year over year. Wickes reiterated a strong first half with total revenue of £865 million, a robust balance sheet with about £152 million net cash after buybacks, and ongoing store refurbishments, openings, and upgrades to support future growth. Management highlighted market-share gains, ongoing investments in digital platforms and faster fulfilment, and expects productivity improvements and lower business rates to bolster profitability in the second half. Analysts noted the stock’s mixed profit trajectory but generally supportive signs of cash generation, growth, and a high-yield valuation.
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