Wickes CEO: ‘There’s a ‘wall of cash’ sitting in UK savings accounts’
Following Wickes’ interim results, chief executive David Wood and chief finance officer Mark George spoke to Retail Week about trading, future consumer spending, and tackling youth unemployment.
Is that step-up genuine demand recovery, or something else?
David Wood: “It’s too early to call a broader market recovery. The market is £35bn and we’re £1.6–1.7bn, so about 5% share – there’s always room to grow through share gains. At the market level it’s still muted. What we’re seeing is largely the rephasing of project timings within the year.”
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