Latest news with #Wincanton
Yahoo
04-07-2025
- Automotive
- Yahoo
Woman cannot attend funeral after Citroen recalls
A woman says she cannot attend her friend's funeral after her car was recalled without a replacement. About 120,000 drivers in the UK have been left unable to drive their Citroens after a lethal fault with airbags prompted car giant Stellantis, which owns Citreon, to say people should stop using versions of the Citroen C3 and related DS3 altogether until fixed. Pamela Slater, of Wincanton, Somerset, is one of those people and cannot get her car repaired until the end of August. "I should be going to a friend's funeral and I can't get there now," she said. "I was going to take a friend to a hospital, she can't drive because of an eye problem. This is awful, I'm totally lost without a car." More news stories for Somerset Listen to the latest news for Somerset The "stop-drive" instruction issued by Stellantis, which owns Citroen, followed growing concerns about the safety of airbags fitted to these models, following a fatal accident in France last month. It is the latest drama in the 20-year scandal over now-defunct Japanese manufacturer Takata, whose airbags were installed by nearly all the world's leading car-makers. "It was news to me because I hadn't heard anything about these recalls and I was mortified," Ms Slater said. "I tried contacting a local garage but they were inundated, a garage in Trowbridge quoted me the end of August to get it done. "I contacted my insurance and they said I'm not covered if I'm in an accident. I'm fortunate in that I'm retired but there must be people who are working who can't get to work." Stuart Masson, a motoring journalist known as the Car Expert, said while vehicle recalls were quite common, stop-drive notices were "very rare". "It's even rarer when they involve large numbers of cars, we're talking about 120,000 in the UK, in Europe about 900,000," Mr Masson added. "Unsurprisingly it's not the easiest thing to make it all fixed immediately." Stellantis said it had no plans to provide compensation, while adding it had "mobilised the whole company" to source the number of replacement airbags required. A spokesperson said: "It is inevitable, with such a large number of vehicles affected, that customers will be inconvenienced in the short term." What is not clear is how customers should get their cars to dealerships for the repair work, as they cannot be driven. Industry experts say drivers should check with their insurers before getting behind the wheel. The company said it was "investigating options of airbag replacement at other sites, in addition to our Citroen network, including at [the owner's] home". Follow BBC Somerset on Facebook and X. Send your story ideas to us on email or via WhatsApp on 0800 313 4630. Citroen owners left stranded over airbag safety risk Deadly airbag fault sees 2.5m cars recalled in France Vehicles damaged as 'community terrorised'
BBC News
04-07-2025
- Automotive
- BBC News
Wincanton woman cannot attend funeral after Citroen recalls
A woman says she cannot attend her friend's funeral after her car was recalled without a 120,000 drivers in the UK have been left unable to drive their Citroens after a lethal fault with airbags prompted car giant Stellantis, which owns Citreon, to say people should stop using versions of the Citroen C3 and related DS3 altogether until Slater, of Wincanton, Somerset, is one of those people and cannot get her car repaired until the end of August."I should be going to a friend's funeral and I can't get there now," she said. "I was going to take a friend to a hospital, she can't drive because of an eye problem. This is awful, I'm totally lost without a car." The "stop-drive" instruction issued by Stellantis, which owns Citroen, followed growing concerns about the safety of airbags fitted to these models, following a fatal accident in France last is the latest drama in the 20-year scandal over now-defunct Japanese manufacturer Takata, whose airbags were installed by nearly all the world's leading car-makers."It was news to me because I hadn't heard anything about these recalls and I was mortified," Ms Slater said."I tried contacting a local garage but they were inundated, a garage in Trowbridge quoted me the end of August to get it done. 'Very rare' "I contacted my insurance and they said I'm not covered if I'm in an accident. I'm fortunate in that I'm retired but there must be people who are working who can't get to work."Stuart Masson, a motoring journalist known as the Car Expert, said while vehicle recalls were quite common, stop-drive notices were "very rare". "It's even rarer when they involve large numbers of cars, we're talking about 120,000 in the UK, in Europe about 900,000," Mr Masson added."Unsurprisingly it's not the easiest thing to make it all fixed immediately."Stellantis said it had no plans to provide compensation, while adding it had "mobilised the whole company" to source the number of replacement airbags required.A spokesperson said: "It is inevitable, with such a large number of vehicles affected, that customers will be inconvenienced in the short term."What is not clear is how customers should get their cars to dealerships for the repair work, as they cannot be driven. Industry experts say drivers should check with their insurers before getting behind the company said it was "investigating options of airbag replacement at other sites, in addition to our Citroen network, including at [the owner's] home".
Yahoo
24-06-2025
- Business
- Yahoo
After Last Week's Surge, Is GXO Logistics Ready for a Comeback?
GXO Logistics has struggled in recent years amid a slowdown in the industrial economy. The company raised its guidance after its plan to acquire Wincanton finally gained approval from U.K. regulators. It also named a new CEO six months after outgoing CEO Malcolm Wilson said he would retire when his successor was found. 10 stocks we like better than GXO Logistics › GXO Logistics (NYSE: GXO) shareholders have had to be patient in the years since the company was spun off from XPO in 2021. That event came at the height of the pandemic stock market boom, which was particularly kind to e-commerce businesses, and the new stock jumped out of the gate. However, GXO's stock tanked during the market-wide sell-off of 2022, and since then, the stock has struggled to build momentum amid broader weakness in the transportation and logistics industries. More recently, it has been held back by concerns about how President Donald Trump's tariffs will impact the global economy. However, the company, which is the world's largest pure-play logistics operator, got two pieces of good news last week that helped send the stock price up 12% on Friday. First, GXO's acquisition of Wincanton, a U.K.-based logistics company, was finally approved by the U.K. Competition and Markets Authority, more than a year after GXO announced its plans for the deal. The purchase was approved pending the divestment of a few grocery contracts, and integration will be allowed to go forward once certain administrative conditions are met. That is key because GXO has not been able to capture the benefits of the acquisition without integrating it. Management expects integration to begin in the third quarter and sees Wincanton adding value, in particular in the aerospace and defense industry. As a result of both that approval and other trends, management raised its guidance for the year. It now expects organic revenue growth of 3.5% to 6.5%, up from a previous range of 3% to 6%. It also raised its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) forecast to a range of $860 million to $880 million, from a prior range of $840 million to $860 million. Its adjusted EPS guidance was lifted from a range of $2.40 to $2.60 to a range of $2.43 to $2.63. In addition to the expected benefits from the Wincanton acquisition, outgoing CEO Malcolm Wilson noted, "Across our operations, we are seeing better than expected volumes and accelerated productivity gains in existing operations and new start-ups." Additionally, on Friday, the company named Patrick Kelleher as its next CEO. Wilson, who headed GXO since the spin-off, announced in December that he would be retiring once his successor was found. Kelleher was most recently the North American CEO of DHL Supply Chain. He also held a number of other executive positions with DHL and helped lead its advanced robotics initiative. Additionally, Kelleher oversaw four M&A transactions, making him a good fit for GXO, as the company has made M&A a key part of its strategy. "Patrick is a world-class operator with the relevant experience to lead GXO through the next phase of growth," said company Chairman Brad Jacobs in the press release announcing the hiring. With those two announcements, GXO put a lot of uncertainty behind it. The company has been waiting more than a year to capitalize on its Wincanton acquisition. Now, it can begin integrating the two operations, cutting costs and leveraging Wincanton's assets and expertise in areas like aerospace and defense. Naming Kelleher as the next CEO eliminates the uncertainty around the company's leadership and positions it to move forward and execute its strategy. Investors shouldn't overlook the other key factor that it revealed -- that its performance and productivity gains have been better than expected. In its first-quarter earnings report, the company pushed back on the assumption that uncertainty around tariffs was hurting the business by reaffirming its guidance. At the time, it noted that its contracts are designed to withstand macroeconomic volatility, and emphasized that its geographical diversification makes the company more resilient in challenging times. In sum, management asserted that the business can continue to grow even with a volatile economic backdrop. GXO's growth may not accelerate until there's some greater clarity about the trade war situation, but the stock still looks like a good value over the long term. This could be the beginning of GXO's recovery. Before you buy stock in GXO Logistics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and GXO Logistics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $664,089!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $881,731!* Now, it's worth noting Stock Advisor's total average return is 994% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Jeremy Bowman has positions in GXO Logistics and XPO. The Motley Fool recommends GXO Logistics and XPO. The Motley Fool has a disclosure policy. After Last Week's Surge, Is GXO Logistics Ready for a Comeback? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-06-2025
- Business
- Yahoo
Why GXO Stock Is Soaring Today
GXO won final U.K. approval to integrate its 2024 purchase of Wincanton. The company also named a new CEO, answering two of the biggest questions that have weighed on the stock of late. 10 stocks we like better than GXO Logistics › GXO (NYSE: GXO) named a new leader and won regulatory approval to integrate a big acquisition. Investors are celebrating the developments, sending shares of the contract logistics provider up 11% as of 2 p.m. ET. GXO operates warehouses and supply chain networks for large corporate and government customers. Last year, the company acquired Wincanton for $962 million to boost its European capabilities, but it has been barred from fully integrating the deal due to United Kingdom Competition and Markets Authority (CMA) concerns. On Thursday, GXO announced that the CMA has cleared it to integrate "the vast majority" of Wincanton subject to the divestment of "a small number" of grocery contracts. Integration is expected to begin in the third quarter, with collaboration on aerospace deals allowed to begin immediately. The company also announced Patrick Kelleher, who has more than 30 years of global supply chain experience, as its new CEO. GXO has been looking for a new leader since December when current CEO Malcolm Wilson announced his intention to retire. GXO raised its full-year revenue, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), and adjusted earnings per share (EPS) guidance as well. GXO stock has lost to the market since being spun out of XPO in 2021. Thursday's announcements could be the first step in reversing those declines. The company has great potential capitalizing on the growing need to manage increasingly complex supply chains but has been held back by headwinds, including uncertainty about the Wincanton integration and over who will be the new CEO. Kelleher's U.S. experience could also help drive sales increases in North America, shifting GXO's European-heavy portfolio. GXO's recent performance has been disappointing, but the potential is there. The market's enthusiasm seems justified. Before you buy stock in GXO Logistics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and GXO Logistics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Lou Whiteman has positions in GXO Logistics and XPO. The Motley Fool recommends GXO Logistics and XPO. The Motley Fool has a disclosure policy. Why GXO Stock Is Soaring Today was originally published by The Motley Fool Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
20-06-2025
- Business
- Yahoo
Why GXO Logistics (GXO) Stock Is Up Today
Shares of contract logistics company GXO (NYSE:GXO) jumped 11.3% in the afternoon session after the company provided impressive preliminary financial forecasts and raised its full-year 2025 guidance for organic revenue growth, adjusted EBITDA, and adjusted diluted EPS. This upward revision reflects better-than-expected performance (volumes and accelerated productivity gains) and anticipated gains from the Wincanton acquisition. GXO confirmed that the UK Competition and Markets Authority (CMA) cleared its acquisition of Wincanton, a major UK logistics company, subject to the condition of divesting a small number of grocery contracts. This regulatory clearance removes a key hurdle for the acquisition, allowing integration to begin in Q3 2025. Lastly, the company announced the appointment of seasoned supply chain leader Patrick Kelleher as its new chief executive officer, effective August 19, 2025. Kelleher has 33 years of global supply chain experience, having held senior executive roles at DHL Supply Chain, a division of Deutsche Post DHL Group. Most recently, he served as CEO of DHL North America, where he led significant growth and operational enhancements across the business. These updates suggest a clearer path for GXO in the eyes of investors, which is spurring buying of the stock. If it's one thing the markets shy from, it's uncertainty. Is now the time to buy GXO Logistics? Access our full analysis report here, it's free. GXO Logistics's shares are somewhat volatile and have had 13 moves greater than 5% over the last year. But moves this big are rare even for GXO Logistics and indicate this news significantly impacted the market's perception of the business. The biggest move we wrote about over the last year was 4 months ago when the stock dropped 15.8% on the news that the company reported weak fourth quarter results. Its full-year EPS and EBITDA guidance fell short of Wall Street's estimates. In addition, while GXO Logistics narrowly topped analysts' revenue expectations this quarter, its organic revenue missed. Overall, this was a weaker quarter. GXO Logistics is up 10.6% since the beginning of the year, but at $47.58 per share, it is still trading 24.5% below its 52-week high of $63.01 from October 2024. Investors who bought $1,000 worth of GXO Logistics's shares at the IPO in July 2021 would now be looking at an investment worth $874.40. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
