Wickes Group PLC reported a near-flat trading performance in the first quarter of fiscal 2026, with like-for-like sales marginally down after unusual rainfall disrupted outdoor project activity.
The home improvement retailer recorded group revenue of A3537 million, an increase of 1.3% year-on-year, while like-for-like sales for the quarter ended in May fell 0.1%. That figure marks the first negative retail like-for-like performance for the group since the second quarter of 2024.
Within Wickes b9s retail operations, like-for-like sales contracted by 1.7% in the quarter, reversing prior momentum that showed 4.5% growth in the fourth quarter. Company management attributed the weaker retail performance primarily to exceptional rainfall that disrupted demand across outdoor categories, while noting that indoor categories continued to register growth during the period.
Wickes b9 Design & Installation division remained resilient. The business posted like-for-like growth of 4.3%, a modest decline from the 5.2% expansion reported in the previous quarter, while the division b9s overall revenue increased by 6.4%.
Despite the headwinds in the retail footprint, management said it remains comfortable with the market consensus for adjusted profit before tax of A357.1 million for the full year. Analyst estimates cited by the company sit in a range between A354 million and A359.4 million. Management also indicated an expectation that the retail division will return to growth following the weather-affected quarter.
Context and implications
The reported results show a split between weaker outdoor-facing retail categories and steady performance in project-led design and installation work. Revenue growth at the group level was modestly positive, but the like-for-like retail decline underscores sensitivity of outdoor home improvement demand to adverse weather conditions.
What the company said
Management highlighted weather-related disruption as the primary driver of the retail like-for-like decline and reiterated confidence in the full-year adjusted profit before tax consensus. The expectation set by the company is that retail sales will resume growth as conditions normalize.
Data points referenced
- Group revenue: A3537 million, up 1.3%.
- Group like-for-like sales: down 0.1% for the quarter ended in May.
- Retail division like-for-like sales: down 1.7% (previous quarter growth 4.5%).
- Design & Installation like-for-like growth: 4.3% (previous quarter 5.2%).
- Design & Installation revenue increase: 6.4%.
- Full-year adjusted profit before tax consensus: A357.1 million. Analyst range: A354 million to A359.4 million.