DIY chain Wickes has unveiled plans to accelerate new store openings as part of aims to expand its network to 300 sites nationwide and create more than 2,000 jobs.
The retailer, which currently has a 230-strong estate, said it is aiming to open four to five stores this year, before ramping up the opening programme to at least 10 a year from 2028.
It also wants to roll out its store refresh plan to 15 to 20 sites this year and at least 20 a year from 2028.
The plans were revealed in full-year results showing underlying pre-tax profits rose 14.4% to £49.9 million for the year to December 27 as sales rose 5.9%, helping offset rising cost pressures.
Statutory pre-tax profits more than doubled to £48.7 million, up from £23.2 million the previous year.
The group said it opened five stores last year, with four out of the five formerly Homebase stores, although it also closed three stores, refitted two sites and refreshed another nine.
David Wood, chief executive of Wickes, said: “Given the strength of investment returns from our proven store refit and new store rollout strategy, we have today announced the decision to accelerate our investment for future growth.
“This takes our ambition to reach 300 stores nationwide – creating over 2,000 new jobs as we bring Wickes’ distinctive offer to new locations up and down the UK.”
Results showed that fourth quarter comparable store sales growth slowed to its lowest since the start of last year, at 4.7% and down from 5.9% in the previous three months.
It said trading in the first 11 weeks of its new financial year has seen demand for outdoor DIY products hit by wet weather, but added that it notched up ongoing increases in sales by volume for indoor projects and its design and installation business.
“Continued investment in our proven growth levers positions us well for 2026, notwithstanding the uncertain consumer and geopolitical environment,” it added.
Shares in the firm lifted 4% in Tuesday morning trading as Wickes said it remained on track with full year expectations for underlying pre-tax profits to rise to £57.6 million in 2026.
The group also announced a £10 million share buyback programme.
