Wickes Share Discussion Threads

[philanderer] 26/1/2024 10:40

Nice surprise this morning :-)

[creditcrunchies] 26/1/2024 10:33

They used to have margins over 5% it's just recently they got thinner due to housing market slow down. Once that bounces back the margins should recover to the norm

[wad collector] 26/1/2024 08:54

Good TU and, even in today's critical market, it is being well received.
I am reminded , looking at £1.5B turnover and maybe £48M profits, what narrow margins they trade on. Maybe not unusual for retail, but 3% doesn't take much of an unexpected cost to thump the profit. But the opposite is true too of course.

[spawny100] 26/1/2024 08:32

Nice breakout on chart finally

[this_is_me] 26/1/2024 07:38

It looks like there is slow, steady progress and an ability to pay out a large dividend while making investment in the business.

[t-trader] 26/1/2024 07:08

Trading Update

Wickes Group plc - Trading Update for the 52 weeks to 30 December 2023
Full year LFL sales in line with prior year;
Adjusted PBT expected at upper end of consensus range

Wickes Group plc ("Wickes" or "the Group"), the leading home improvement retailer, today provides a trading update for the 52 weeks to 30 December 2023.

Full year Group LFL sales of -0.3% were in line with prior year. Cash at the year end was £97.5m after £10.1m of share buybacks, in line with guidance, reflecting strong cost and stock control. Given our working capital cycle, average cash across the year was £155m.

Adjusted PBT for FY23 is expected to be at the upper end of market consensus range of £44.9-£48.3m on a post-IAS38 basis.

[philanderer] 23/1/2024 14:46

Glass ceiling at 145p ;-)

[albert35911] 17/1/2024 17:07

Not much of attack spawny

[mjneish] 16/1/2024 19:31

The market could be waiting for the trading update this month. Last year it was on the 31st.

[spawny100] 05/1/2024 16:10

Significant increase in volume so far this year. Bodes well for an attack on 150+ finally?

[dudishes] 02/1/2024 15:18

Out for now, remain watch list.

cheers

[eigthwonder] 30/12/2023 16:37

Deutschebank research is now more relevant than you think - that is the new home of Numis who had good coverage in the sector (although my spies suggest there may have been departures recently).

[montyhedge] 30/12/2023 14:39

We are looking for a new kitchen, that's Wickes crossed off the list for me.

[maxk] 30/12/2023 13:47

Customer parks tank outside Wickes in protest at ‘poor quality’ £25,000 kitchen

Paul Gibbons drove the British Abbot SPG vehicle to the Basingstoke branch after claiming retailer refused to accept his complaint

Neil Johnston
29 December 2023 • 7:04pm





Paul Gibbons outside Wickes with his Abbot SPG tank used by the British Army during the Cold War CREDIT: Jonathan Buckmaster



A disgruntled customer has parked a Cold War tank outside a branch of Wickes in protest against what he says is a “poor quality” kitchen.

Paul Gibbons, 63, from Kingsclere in Hampshire, had looked at various retailers before settling on the Wickes branch in Basingstoke to carry out the work on his home in February.

The £25,000 kitchen was reportedly meant to be fitted to a high-quality standard within two weeks but Mr Gibbons says he is still experiencing problems 10 months later.

He claimed that the drawers and doors do not close, storage is unusable or falls out of place and mould has begun growing underneath his sink.

Mr Gibbons has now parked the green Abbot SPG tank used by the British Army during the Cold War in the car park of the branch. He has placed a white sign on the side of the tank built in 1965 spelling out the letters of the retailer’s name and stating: “Warning Incompetent Complacent Kitchen Supplier” alongside an angry face emoji.

Mr Gibbons told the Basingstoke Gazette: “The finish throughout is so poor, and half of the kitchen doesn’t fit as it should. I agreed to the contract and what I was told would be two weeks of work, and 10 months later I am still left with a kitchen which I can’t even use as you should.”

‘I’m making a stand’

He claimed that Wickes was refusing to accept the kitchen did not meet the standard promised.

“The worst thing about it is that Wickes refuses to accept that the quality of the kitchen is nowhere near the standard it should be.

“They should deal with these issues when they arise rather than palming people off, and I’m making a stand simply to say that it’s not right.”

A spokesman for Wickes said: “We are aware of the situation at the Basingstoke store and would like to apologise for any inconvenience that has been caused to shoppers visiting the store today.

“Our customer relations team is in contact with the customer to discuss their installation and help to resolve the issue.”

[albert35911] 20/12/2023 08:32

Doing ok this morning again,keep the buy backs coming,they will end early February or before.

[dudishes] 18/12/2023 23:22

Wow, a rise at last. Xmas kickin in?

[creditcrunchies] 24/11/2023 23:19

I go to these DIY shops regularly I have noticed Wickes returning to the pre pandemic average looking at the foot fall now. Still profitable but I'd pencil in lower revenues. Last year our local Wickes was still very busy. I think that plonker COO Fraser Longden has had a slight impact with his gender views. The quicker they show him the door the quicker this company can forge ahead.

[philanderer] 22/11/2023 10:03

Kingfisher dropped 5.6%.

The owner of DIY chains, including B&Q, cut profit guidance once again, now expecting annual underlying pretax profit of £560 million. In September, it had cut guidance to £590 million from its original forecast of £634 million.

Kingfisher said it was seeing a more ‘resilient’ DIY market in the UK, with third quarter sales across its various brands edging up. However, it said sales in its French arm, where it trades as Castorama and Brico Depot, dropped 8.7%.

[dudishes] 16/11/2023 09:44

Average remains the same.

Will stick for now. GL

[dudishes] 09/11/2023 13:40

Me neither.

123, a good buy imo.
Average not so good, 130, but getting there.

Winter DIY?

Probably more storms needed! \hic!

[albert35911] 07/11/2023 15:26

Not bothered about Deutschmark bank.

[philanderer] 07/11/2023 10:38

Deutsche more cautious on Wickes amid spending squeeze


Deutsche Bank is becoming increasingly cautious on the outlook for DIY and trade supplies chain Wickes (WIX) as it says ‘big-ticket sales’ will ‘finally face reality’.

Analyst Adam Cochrane retained his ‘hold’ recommendation but reduced the target price from 160p to 145p on the Citywire Elite Companies + rated stock, which slid 4%, or 5.25p, to 125.25p on Monday.

‘We have had a cautious view since early 2023 given our concerns on the outlook for UK consumer spending and the fading benefit from inflation on revenue growth,’ Cochrane said.

‘The big-ticket spending has held up better than expected in the first half but has moved into negative territory in the third quarter as consumer behaviour better reflects the underlying data points on consumer confidence and housing transactions.’

While third-quarter results reassured Cochrane on the 2023 profit before tax, he lowered his profit forecast for 2024 by 10% to £49m and by 15% to £60m for 2025 as he took ‘a more cautious view’ on trends.

‘We lower our target price to 145p and retain our ‘hold’ recommendation, as – despite being on 9x full-year 2024 price/earnings – we need to see more positive earnings momentum before becoming more constructive,’ said Cochrane.



citywire.com

[jubberjim] 06/11/2023 18:53

Bit concerning the perceived slowdown and subsequent lay offs at building firms

Does not bode well so even though I believe DIY have enough on my plate with sdy so will have to sit this and kgf over this winter

Good luck to those brave enough who are willing to hold on should be rewarded but I am so risk averse in these trying times have to give it a swerve

[philanderer] 06/11/2023 10:19

Deutsche Bank cuts Wickes price target to 145 (160) pence - 'hold'