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It stated “clients are reacting to the unsure macroeconomic backdrop”, and consequently, the agency had adjusted its anticipated revenue earlier than tax to be within the vary of £72-82m for the second half.
Ongoing provide chain challenges impacted upon its FIFM gross sales, with Wickes saying it had skilled a slowing of latest orders in current weeks, whereas clients are hesitant to decide to new massive orders. Cancellations stay low.
“It’s encouraging to see continued outperformance in our Core market share regardless of current indicators of softening within the DIY market”, stated David Wooden, CEO of Wickes.
“Our funding for development progressed within the interval with 5 retailer refits accomplished within the first half which proceed to drive robust returns.
“We stay watchful of the macroeconomic backdrop and are managing the enterprise appropriately to navigate these exterior pressures”.
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