Wickes Group flags end of lockdown DIY boom

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Wickes Group (LSE:WIX) PLC said sales are starting to slow following the lockdown boom with people going back to work rather than spending time on DIY.


Supply shortages though had no material impact on sales during the third quarter, said the group which recently demerged from Travis Perkins (LSE:TPK).


“The group continues to navigate inflationary pressures and raw material constraints well,” said chief executive David Wood.


Sales in the three months to end September 2021 fell 1.6% compared to the lockdown-enhanced period a year ago.


The DIFM or do-it-for-me market rose 0.7% but core trade sales dipped 2.3%.


Over the longer period, the reverse is the case, with DIFM sales well down on two years ago but core sales up by 27%, though this is half the growth seen in the first quarter.


Shares fell 1.5% to 222.6p.

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