Trading Statement
Wickes Group PLC reported a second quarter 2026 trading update showing 2.3% overall revenue growth, driven by a 1.8% increase in Retail revenue and 3.8% growth in Design & Installation. Retail LFL revenue grew 0.6%, with TradePro sales up 6% and active members reaching 671,000, while Design & Installation delivered sales increased for the fifth consecutive quarter. The company maintains a strong balance sheet with £152m net cash and remains comfortable with consensus expectations for 2026 adjusted PBT, anticipating modest market growth and continued market outperformance.
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Comfortable with market forecasts for 2026 adjusted PBT
In the second quarter of 2026 Wickes delivered 2.3% revenue growth, driven by continued volume growth across the business.
| Q1 2026 3 | Q2 2026 4 | H1 2026 5 | ||
|---|---|---|---|---|
| Retail 1 | Revenue | £274m | £366m | £640m |
| Revenue growth | (0.4)% | 1.8% | 0.8% | |
| LFL revenue growth | (1.7)% | 0.6% | (0.4)% | |
| Design & Installation Ranges 2 | Revenue | £ 109 m | £117m | £226m |
| Revenue growth | 7.8% | 3.8% | 5.7% | |
| LFL revenue growth | 5.7% | 1.8% | 3.6% | |
| Group | Revenue | £383m | £483m | £865m |
| Revenue growth | 1.8% | 2.3% | 2.1% | |
| LFL revenue growth | 0.3% | 0.9% | 0.6% |
As expected, Retail returned to growth, with revenue increasing by 1.8% year-on-year. Customer growth continues to drive strong overall volume increases in Retail, alongside a deflationary pricing environment. Further market outperformance has led to continued market share growth in H1 compared to the prior year. On a two-year basis, Retail LFL increased by 8.5%.
Within Retail, TradePro continued to perform well, with sales up 6% year-on-year, as local trade professionals continue to choose Wickes to save them time and money. Active TradePro members6 increased by 9% year-on-year to 671,000. DIY sales were broadly flat. Investment in speed and ease is resonating with customers, driving 7% growth in digitally-led Click & Collect and Home Delivery.
In Design & Installation, delivered sales7 have now been in positive growth for five consecutive quarters. Lifestyle Kitchens and Bespoke Bathrooms continue to generate impressive growth. With customers being more considered for larger purchases, our Bespoke Kitchen ranges are seeing slower orders. The overall number of D&I projects has increased, however ordered sales8 by value for the period were slightly lower than in the same period last year.
Our property strategy is progressing well, with eight stores refitted or refreshed in the first half and one store closed9. Across 2026 we expect to open 4-5 new stores and to refit or refresh 15-20 stores.
The balance sheet remains strong with net cash at the half year of £152m (2025: £158m). This cash balance is following £10m of share buybacks10 completed during the half and a further £10m of share purchases for the Employee Benefit Trust11.
Investment in our proven growth levers positions us well for 2026 and beyond. Whilst the consumer environment remains uncertain, we expect modest market growth in the remainder of the year. Our value-led and differentiated business model leaves us well-positioned to continue outperforming the market. We have a good productivity plan in place which will support our profitability, particularly in H2 and, as previously noted, we will also benefit from lower business rates this year. We remain comfortable with consensus expectations12 for adjusted PBT for 2026.
We expect to report half year results in mid-September 2026.
David Wood, Chief Executive of Wickes, commented:
"This has been another period of revenue growth, driven once again by volumes and an increase in the number of Wickes customers. Our Retail business has performed well given the current external environment, with TradePro's convenient and value-led offer seeing even more local tradespeople turn to Wickes. In Design and Installation, the broadening of our offer is supporting current consumer trends, with our Wickes Lifestyle Kitchens proving particularly popular. Looking ahead, our strategy leaves us well-placed to continue to win as we accelerate our store rollout and refresh programme."
Footnotes
- Retail revenue relates to all products and related delivery income sold to customers (both DIY and local trade), in stores or online, excluding those reported as Design & Installation Ranges.
- Design & Installation Ranges revenue includes all product categories which could be sold as part of a design and/or installation and where the majority of sales of those products are designed and/or installed. This relates principally to projects such as kitchens and bathrooms, sold by our Design Consultants, as well as Wickes Solar. Revenue is recognised when delivery and installation (where applicable) is complete.
- 13 weeks to 28 March 2026
- 13 weeks to 27 June 2026
- 26 weeks to 27 June 2026
- TradePro members deemed 'active' are those who have shopped with us in the last 12 months.
- Ordered sales refers to the value of orders at the point when the order has been placed.
- Q1: 0 refits, 2 refreshes, 0 closures. Q2: 3 refits, 3 refreshes, 1 closure.
- Before stamp duty and commission.
- Before stamp duty, commission and cash received from employees.
- As at 3 June 2026, consensus complied from all covering analysts is for adjusted PBT in 2026 of a mean of £55.4m, with a range of £52.8m-£58.0m.
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