Wickes' third-quarter sales climb as low-price strategy draws shoppers

Oct 20 (Reuters) - British building materials supplier Wickes reported a 4% rise in third-quarter like-for-like sales on Tuesday as its low-price offerings attracted value-conscious customers, though it noted a modest rise in some prices.

• The retailer, which sells bathroom and kitchen fittings, has sought to limit price increases as customers grapple with higher mortgage rates, inflationary pressures and concerns over tax hikes

• Wickes' third-quarter revenue rose 4.5% to £439 million ($586.07 million), with revenue in its retail segment up 6%

• The company said its retail segment, which includes tradespeople-focused TradePro and DIY operations, has begun to see a mild price inflation after a sustained period of deflation

• While rivals Travis Perkins and Howden Joinery have raised prices, Wickes has previously said it aims to be 2% to 3% cheaper than competitors

• Sales in Wickes' Design and Installation business were broadly flat as customers pulled back on big-ticket purchases

• The company reiterated its forecast for about 10% growth in adjusted pretax profit in 2026

($1 = 0.7491 pounds)

(Reporting by Simone Lobo in Bengaluru; Editing by Sherry Jacob-Phillips)