Wickes Unveils Major UK Expansion with 70 New Stores and 2,000 Jobs
In a significant boost to the retail sector, DIY giant Wickes has announced ambitious plans to open 70 new stores across the United Kingdom, creating more than 2,000 jobs in the process. The retailer, which currently operates 230 locations, aims to expand its estate to 300 stores nationwide as part of a strategic growth initiative.
Phased Store Opening Programme
The expansion will follow a carefully phased approach. Wickes intends to open four to five new stores this year, before significantly accelerating the programme to at least 10 stores annually from 2028. This accelerated timeline reflects confidence in the company's proven store format and market position.
Alongside new store openings, Wickes plans to roll out an extensive store refresh programme, targeting 15 to 20 sites this year and maintaining a pace of at least 20 refreshed stores per year from 2028 onward. This dual strategy of expansion and modernization aims to enhance the customer experience across both new and existing locations.
Strong Financial Performance Supports Growth
The expansion plans were revealed alongside Wickes' full-year financial results, which showed robust performance despite challenging market conditions. Underlying pre-tax profits rose by 14.4% to £49.9 million for the year ending December 27, supported by a 5.9% increase in sales that helped offset rising cost pressures.
Statutory pre-tax profits more than doubled to £48.7 million, up from £23.2 million the previous year. The company also announced a £10 million share buyback programme, demonstrating financial strength and commitment to shareholder returns.
Leadership Commentary and Strategic Vision
David Wood, Chief Executive of Wickes, commented on the strategic direction: "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."
Wood added: "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."
Recent Store Activity and Market Position
The company has been actively reshaping its portfolio, having opened five stores last year – four of which were formerly Homebase locations. During the same period, Wickes closed three stores, refitted two sites, and refreshed another nine, demonstrating ongoing portfolio optimization.
While fourth-quarter comparable store sales growth slowed to 4.7% (down from 5.9% in the previous quarter), the company noted continued strength in key areas. Trading in the first 11 weeks of the new financial year showed ongoing sales volume increases for indoor DIY projects and the design and installation business, though outdoor product demand was affected by wet weather.
Future Outlook and Market Response
Wickes remains optimistic about its 2026 prospects, stating: "Continued investment in our proven growth levers positions us well for 2026, notwithstanding the uncertain consumer and geopolitical environment." The company expects underlying pre-tax profits to rise to approximately £57.6 million in 2026.
Investors responded positively to the announcements, with shares in the firm rising 4% in Tuesday morning trading following the release of the expansion plans and financial results.
