Wickes sets 300 store target after profits beat estimates, shares spark

(Sharecast News) - Shares in Wickes jumped on Tuesday as the DIY and trade retailer reported better-than-expected annual profits and said it would accelerate its plans to reach 300 stores over the long term from the current 230. The company also announced a £10m share buyback, adding that it was "comfortable" with progress towards current-year forecasts despite the wet English winter hampering outdoor projects in the first 11 weeks of 2026 while indoor projects showed continued volume growth.

Adjusted pre-tax profit for the 52 weeks to December 27 rose 14.4% to £49.9m, compared with £43.6m a year earlier and estimates of £48.2m. Consensus adjusted PBT for FY 2026 is £57.6m with a range of £52.0m to £59.8m.

Wickes opened five new stores last year and retrofitted another 11, leading to the decision to roll out more locations and create more than 2,000 new jobs.

Reporting by Frank Prenesti for Sharecast.com

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