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It will be immediately accretive, so will help the bottom line.
“The Business will be fully consolidated into Wickes' accounts upon completion. It is cash generative and profitable and is expected to be immediately accretive to group profits. “
Https://www.londonstockexchange.com/news-article/WIX/acquisition/16481387
Could be a bit of a game changer this
Acquisition gone through
https://www.londonstockexchange.com/news-article/WIX/acquisition/16481387Q
Sorry. Wrong company.
A little.
All i see is positive but why the decline. I bought in a few years @ £2.60 and hold much more now, buy back is underway, news is still good but its slipping ?
Pushing it to analysts and investors. Presentation seems to indicate it’s going quite well for them.
https://www.insightdiy.co.uk/news/wickes-hosts-tradepro-investor-insight-event/13717.htm
Https://www.lse.co.uk/rns/WIX/trading-update-for-the-16-weeks-to-20-april-2024-1rtccpa29k1ruhv.html
Slow. Overall expectations on profit unchanged.
Buy 5%
https://www.lse.co.uk/rns/WIX/holdings-in-company-imztucl25rlgzng.html
A 24,000 square feet Wickes store and associated car park ( in Durham ) will open on 17 May, adding to Wickes’ comprehensive stores in the North East.
Https://www.insightdiy.co.uk/news/wickes-announces-new-magic-radio-partnership/13563.htm
Taking advantages to promote, increase market share. We’ll still wait on housing turnover and wider economy though.
Housing data rather disappointing today. So not surprised in the red. Not out of kilter wth markets generally.
I was just reading Kingfisher’s results from yesterday. On the new financial year, Wickes reported sales ‘in line with’ last year. Kingfisher are seeing ‘improved sales trend’ in the UK and Ireland. So based on those two, early signs may indicate their market has at least begun to stabilise, and will possibly improve throughout the year.
Https://www.theretailbulletin.com/general-merchandise/wickes-promotes-sarah-taitt-to-role-of-chief-property-and-services-officer-26-03-2024/
Gives greater focus, I imagine.
Wickes, like others, rely on discretionary spend for bigger ticket items. Early days, but mixed metaphor perhaps at the bottom and turning a corner.
https://www.bbc.co.uk/news/live/business-68581527
Annual Report
https://www.wickesplc.co.uk/media/behjhuqj/wickes-annual-report-2023.pdf
New Derbyshire store opening as planned before Easter.
https://www.erewash.gov.uk/latest-news-section/latest-news/1900-mayor-to-open-new-wickes.html
Panmure Gordon one of those reaching consensus.
https://www.proactiveinvestors.co.uk/companies/news/1043515/panmure-downgrades-wickes-profit-guidance-due-to-cost-pressures-1043515.html
Well, their guidance is on page 11.
They say they are comfortable with consensus expectations.
https://www.wickesplc.co.uk/media/vhypw3tk/fy-2023-deck-final.pdf
Potentially but proven pretty resilient and been through tough times already. Maybe had nadir already and could see macro improving, wage growth outstripping inflation, decreasing base rate, housing market incentives, energy cost cutting etc.