DIY Retailer Sees Growth Amidst Rising Energy Concerns
- Wickes reports stable Q3 trading with sales up 2.6%
- Trade sales perform strongly, TradePro customer base increases by 10k per month
- DIY sales remain below last year but no signs of further softening since July update
- Orders down in Q3 due to delayed big ticket projects
- Three refits completed and new store opened in Bolton, more planned for 2023
- Full-year adjusted PBT expected between £72-82m
- Energy costs could increase FY23 by £7.5m if price cap remains the same
Wickes has reported stable trading in its third quarter with sales up by 2.6% compared to the first half, but warned of potential energy cost increases for FY23. The company’s TradePro customer base increased by 10k per month, reaching around 720k, while DIY sales remained below last year’s levels. Orders were down due to delayed big ticket projects in Q3. Wickes opened a new store in Bolton and plans more for 2023. The full-year adjusted PBT is expected between £72-82m. CEO David Wood remains optimistic about the company’s growth levers and cost control.
Factuality Level: 9
Factuality Justification: The article provides accurate and objective information about Wickes’ trading performance, sales growth, customer base, store openings, and CEO’s comments on external factors affecting the business. It also includes relevant details about energy costs and future expectations. The information is presented without any significant bias or personal perspective.
Noise Level: 2
Noise Justification: The article provides relevant information about Wickes’ trading performance, sales growth, and future expectations, with a focus on energy costs as a potential challenge. It also mentions new store openings and the CEO’s comments on the company’s strategy. The content is informative and stays on topic without diving into unrelated territories.
Financial Relevance: Yes
Financial Markets Impacted: Wickes’ financial performance, energy costs impacting its future profitability
Financial Rating Justification: The article discusses Wickes’ financial performance and the potential impact of rising energy costs on its business, which could affect its profitability in the future.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
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