Wickes has said it will open 20 new stores in the next five years, with as many as five opening this year.
The confirmation comes as the DIY retailer announced a 1.8% uplift in annual revenue to £1.56bn, but an 11% fall in adjusted pretax profit to £75m.
Wickes operates from a network of 230 “right-sized” stores. It said it plans to open more stores to address “white spaces” on the map where it has insufficient coverage.
Last year it opened a store in Bolton, its first new opening “in some time”.
The DIY retailer said it will focus on its store refit programme. A dozen store refits were completed during the year, including the downsize and refit of its Maidstone store. It said it will continue the refit programme in 2023, where possible tied to lease renewals.
The retailer said: “We remain confident on the opportunity to expand into 20 new locations over the next five years. Our first new store for some time opened in Bolton in October, and further openings are planned in 2023.”
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