Wickes Group (WIX) Trading Update summary

Trading performance

• Retail like-for-like sales grew 4.2% in Q3, with overall group revenue up 2.1% year-on-year.

• Design & Installation sales decline slowed to 13.3% in Q3, showing signs of stabilisation.

• TradePro sales rose 16% year-on-year, with active members up 18% to 564,000.

• Group like-for-like revenue increased 0.4% in Q3, reversing declines from earlier quarters.

• Market share gains in Q3 were driven by volume growth and selling price deflation of around 2%.

Strategic initiatives and operations

• Continued investment in growth levers, including opening a new Aberdeen store and refitting two more locations.

• 79% of the store estate now operates in the new format.

• Design & Installation now includes a full quarter of Solar Fast sales, impacting revenue growth figures.

• Digital channels and apps support nationwide fulfilment and customer engagement.

Outlook and management commentary

• Profit outlook for 2024 remains unchanged, with confidence in meeting market expectations.

• Management highlights strong value proposition and service-led offer as key drivers of repeat business.

• Positioned for faster growth as market conditions improve, with Q4 trading update expected in January 2025.