March 17 (Reuters) - British retailer Wickes on Tuesday said it would accelerate investment in new stores with a target to reach 300 locations nationwide, as it posted an annual profit above market
UK's Wickes targets 300 stores nationwide, as profit beats expectations
Wickes' Expansion Plans and Financial Performance
Accelerated Store Investment and Network Growth
March 17 (Reuters) - British retailer Wickes on Tuesday said it would accelerate investment in new stores with a target to reach 300 locations nationwide, as it posted an annual profit above market expectations.
Store Openings and Job Creation
The company's store investment programme has paid off, with five new stores opened and 11 refits completed in 2025, prompting Wickes to scale beyond its current 230-store network and create over 2,000 new jobs as it targets underserved towns and cities.
Market Conditions and Product Offerings
Adapting to Consumer Sentiment
Despite the sector suffering from a lukewarm consumer sentiment and challenging macroeconomic environment, Wickes has widened its offerings to cater to its clientele of tradespeople and homeowners.
Performance Across Product Segments
Outdoor vs Indoor Project Demand
The retailer, which provides bathroom and kitchen fittings, among other home installations, said outdoor project demand in the first 11 weeks of 2026 was impacted by wet weather, while indoor projects showed continued volume growth
Financial Results
Profit Exceeds Expectations
The company posted adjusted pretax profit of 49.9 million pounds ($66.32 million) for the year ended December 27, above the average analysts' expectations of 48.2 million pounds, as per a company-compiled poll.
($1 = 0.7524 pounds)
(Reporting by Simone Lobo and Yamini Kalia in Bengaluru; Editing by Nivedita Bhattacharjee)
