EarningsQ2 2026 Earnings Report
DE:0FD Q2 2026 EPS Results
Actual EPS€0.11
Consensus EPS―
Beat/Miss―
One Year Ago EPS€0.12
DE:0FD Q2 2026 Revenue Results
Actual Revenue€1.02B
Expected Revenue€569.65M
Beat/MissBeat by +€450.89M
YoY Revenue Growth+2.05%
Earnings Announcement Details
QuarterQ2 2026
Date09/15/2026
TimeBefore Open
Conference CallTuesday, September 15, 2026
DE:0FD Upcoming Earnings
Wickes Group's next earnings date is estimated for March 25, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, with revenue, profit, volume, market share, TradePro membership and Q3 trading momentum all improving. The company also reported healthy cash generation, shareholder returns, store expansion and continued investment in growth initiatives. The main challenges were first-half product deflation, operating-cost inflation, a flat PBT margin, lower average order values in design and installation, and the still-small contribution from Solar, but management maintained full-year guidance and expects stronger profit growth in the second half.Company Guidance
Group Revenue and Adjusted Profit Growth
First-half group revenue increased 2.1%, while adjusted profit before tax increased 1.1% to GBP 27.6 million. Management attributed the performance to sustained volume growth and the productivity plan, despite the absence of market tailwinds.
Retail and Design & Installation Sales Growth
First-half retail sales increased 0.8% and design and installation sales increased 5.7%, supported by the healthy order book built up during 2025. Design and installation delivered its fifth consecutive quarter of positive like-for-like growth.
Strong Q3 Trading and Full-Year Guidance
Q3 retail sales were reported to be growing at a mid-single-digit like-for-like rate after 11 weeks. The company remains on track to meet market expectations of around 10% growth in PBT for the year.
Retail Volume and Market Share Momentum
Retail sales growth was purely volume driven, reflecting more customers shopping in stores and online. Market share increased year-on-year, with decorative reaching an all-time market share high and gardening and timber also supporting DIY customer growth.
TradePro Membership Growth
TradePro sales increased 5%, driven by a record 671,000 active members. Management said the active member base is heading towards 700,000 against an addressable market of 2.3 million, leaving further penetration opportunity.
Digital and Convenience Proposition Growth
Click & Collect and Home Delivery grew 7%, supported by customer demand for convenience and the Wickes Rapid same-day delivery service. Customer satisfaction was rated excellent or good by 86% of customers for 15-minute Click & Collect and 90% for Home Delivery.
Design and Installation Customer Engagement
Design and installation served a higher total number of projects, with customers responding positively to the good, better and best range proposition. The business now offers 23 lifestyle kitchen ranges, while 96% of customers rate the experience from lead to order as excellent or good.
Kitchen and Bathroom Proposition Innovation
Lifestyle kitchens generated strong volume growth, while the company expanded its paint-to-order hand-painted ranges in anticipation of a recovery in higher-end demand. Bespoke bathrooms benefited from the new Bayswater collection and new fitted and modular furniture, with strong volume growth and higher average order value in bathrooms.
Solar Business Rebased and Growing
Wickes Solar has been rebased and is being supported by lead generation and customer-journey improvements. Solar volumes have shown a good pickup since around March, supported by good weather, energy-cost concerns and the company's innovation and go-to-market approach. The company plans to install solar on a further five Wickes stores this year.
Store Estate Refits and Expansion
The company refitted or refreshed eight stores in the first half, bringing 84% of the estate into the new format, with a further four refits planned for the year. It remains on track to open four to five new stores in the second half, including Saffron Walden, and plans to open seven to nine stores in 2027 and 10+ per year from 2028, supporting its ambition to reach 300 stores.
Smaller Store Format Value Creation
The company said its existing 15,000 sq ft-20,000 sq ft stores generate similar EBITDA net to the wider estate because their revenue and operating costs are both lower. Going forward, new stores are expected to average about 20,000 sq ft versus a current estate average of 27,000 sq ft.
Productivity Initiatives Delivered
Productivity initiatives included a new online appointment-booking journey that improved customer experience and lowered customer call-center costs, as well as a right-first-time focus from design to delivery that is reducing costs and improving customer satisfaction. Business-rates savings were about GBP 1 million in the first half and are expected to be about GBP 2 million in the second half.
Healthy Cash Generation and Shareholder Returns
The company ended the period with GBP 152 million of cash. It returned GBP 26 million to shareholders in the first half, comprising GBP 16 million of dividends and GBP 10 million of share buybacks, completed the GBP 10 million share buyback, and funded a further GBP 9 million of share purchases for the employee benefit trust.
Dividend Increase
The interim dividend was increased by 2.8% from GBP 0.036 to GBP 0.037. Management reiterated its plan to grow the dividend and dividend cover as profits increase.
Technology Investment and New Till System
Technology investment has stepped up, with around GBP 20 million of project development costs expected to go through the P&L next year, representing a small increase versus 2026. The new iPad-based till system is being tested in a handful of stores, with broader estate coverage targeted by the end of the year; expected benefits include efficiency, customer engagement and upselling.
TradePro and B2B Growth Opportunities
Management identified further opportunities to increase TradePro penetration, grow share of wallet with existing trade customers and expand into more organized B2B businesses. Wickes Solar is also building a B2B pipeline through relationships with suppliers, manufacturers, warehouses and landlords, while scaling its team to deliver larger projects.
Responsible Business and ESG Progress
Around 30% of store colleagues are aged 16-24, supported by dedicated training programs. Wickes pledged to protect well over 250,000 power tools across the U.K. this year through free tool-marking kits and has raised GBP 1.3 million toward its GBP 2 million CALM fundraising target. The company maintained its AAA MSCI ESG rating, remained in the FTSE4Good index and improved its latest score from 4.2 to 4.4 out of 5.
Stable Consumer Demand Indicators
Management reported that spending plans have remained stable, around 30% of local trades have a healthy 12-month-plus work pipeline, one in five consumers plan to undertake a new kitchen or bathroom project, and one in two consumers plan to decorate a room over the next 12 months.
Large Addressable Market
Wickes currently holds 5% of the GBP 35 billion addressable U.K. home improvement market, which management described as providing substantial headroom for growth.
DE:0FD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed