DIY chain Wickes has announced ambitious plans to significantly expand its national network, aiming for 300 stores across the UK and the creation of more than 2,000 new jobs.
The retailer, currently operating 230 sites, intends to open four to five new outlets this year, accelerating to at least 10 stores annually from 2028.
Alongside this expansion, Wickes will refresh 15 to 20 existing sites this year, increasing to at least 20 per year from 2028.
These growth strategies follow robust full-year financial results, revealing underlying pre-tax profits surged 14.4 per cent to £49.9 million for the year to 27 December.
Sales rose 5.9 per cent, helping to offset rising cost pressures.
Statutory pre-tax profits more than doubled to £48.7 million, up from £23.2 million. Last year, the group opened five stores, including four former Homebase sites, while also closing three.
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 per cent and down from 5.9 per cent 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 per cent 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.
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