DIY chain Wickes has unveiled plans to speed up new store openings as it expands to 300 sites and creates 2,000 jobs.
The retailer, which has a 230-strong estate, said it is aiming to open four to five stores this year, before ramping up to at least ten a year from 2028.
It also wants to refresh 15 to 20 sites this year and at least 20 more a year from 2028.
The plans were revealed in full-year results showing that underlying pre-tax profits rose 14.4 per cent to £49.9million for the year to December 27 as sales went up 5.9 per cent, helping offset rising cost pressures.
Statutory pre-tax profits more than doubled to £48.7million — up from £23.2million the previous year.
The group said it opened five stores last year, four of them formerly Homebase sites, although it also closed three stores, refitted two sites and refreshed another nine.
Boss David Wood said: “This takes our ambition to reach 300 stores nationwide as we bring Wickes 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.
Shares in the firm lifted 4 per cent yesterday as Wickes said it remained on track with expectations for underlying pre-tax profits to rise to £57.6million in 2026.
The group also announced a £10million share buyback programme.
ENERGY BILLS ‘UP £250’
HOUSEHOLD energy bills could jump by £250 a year from July because the war in the Middle East has pushed up wholesale prices, the industry has warned.
Energy UK, which represents suppliers, said early forecasts suggest the next Ofgem price cap — due at the end of June — could lift the average annual bill by around that amount.
Boss Dhara Vyas has urged ministers to “immediately step up efforts” to protect customers most at risk.
A package focused on lower income households could cost £12.5billion.
BANK JOB CUT
CLOSE BROTHERS is set to axe 600 jobs – almost a quarter of its staff – following losses linked to the car finance mis-selling scandal.
The banking group, which employs 2,600 people, said the redundancies will be made over 18 months, as it aims to cut costs by £25million this year and £60million in 2027.
It reported a pre-tax loss of £65.5million for the six months to March 31, after setting aside £300million for compensation.
A FARE CHANGE
TRAIN travel compensation is to get simpler as ministers push ahead with state-owned Great British Railways.
Under plans unveiled by the Department for Transport, “delay repay” claims will be merged into a single, easy-to-use service, ending today’s patchwork of 14 systems.
Travellers will be able to claim directly from where they bought their ticket, including third-party retailers such as Trainline.
