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WH Smith ( (GB:SMWH) ) has shared an announcement.
WH Smith PLC has announced findings from an independent review by Deloitte, revealing inconsistencies in the accounting treatment of supplier income in its North America division, which has led to overstated income figures. The company is implementing a comprehensive remediation plan, including leadership changes and enhanced financial controls, to address these issues. The financial impact includes a significant reduction in expected profits for the North America division and additional costs related to inventory adjustments. The resignation of Group CEO Carl Cowling has been announced, and the company is focused on rebuilding trust and improving performance in North America.
The most recent analyst rating on (GB:SMWH) stock is a Hold with a £6.75 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
Spark’s Take on GB:SMWH Stock
According to Spark, TipRanks’ AI Analyst, GB:SMWH is a Neutral.
WH Smith’s overall stock score is primarily influenced by its strong financial performance, which is offset by bearish technical indicators and a high valuation. The company’s high leverage and potential overvaluation are significant risks, while the lack of recent earnings call data and corporate events limits additional insights.
To see Spark’s full report on GB:SMWH stock, click here.
More about WH Smith
WH Smith PLC is a prominent retail company operating in the travel and high street sectors, primarily known for its wide range of products including books, stationery, and convenience items. The company has a significant presence in the UK and international markets, with a focus on travel retail locations such as airports and train stations.
Average Trading Volume: 935,365
Technical Sentiment Signal: Sell
Current Market Cap: £771M
See more insights into SMWH stock on TipRanks’ Stock Analysis page.