Wilko bounces back with impressive profits

Worksop headquartered retailer Wilko is back in the black after posting impressive profits for the year-ending 2 February.

Despite the firm bemoaning a “challenging trading environment”, Wilko posted profits of £34.8m ovrr the period – after a loss of £65m loss last year. This was despite sales falling by £37m to £1.56bn.

Wilko says it opened eight stores and closed seven underperforming stores last year, leaving it with a “strong” portfolio.

A statement signed off by chief financial officer Alejandro Russo said: “[Wilko] has plans in place to further improve the customer proposition, operating disciplines, control costs and effectively manage cash in 2020 and beyond to create a sustainable future for the Group as it transform itsel into a product-led business.”