Conor Maguire, founder of Value Sits, discusses his thesis on Wickes (WIX:LSE). Wickes is a cheap retailer that Conor thinks is both recession resistant and suffering from typical post-spin dynamics.My notes on WIX: https://twitter.com/AndrewRangeley/status/1511702344022609922?s=20&t=2lChWyeIhR6HZWw938bR8QConor's write up: https://valuesits.substack.com/p/wickes-group-plc-wixln?s=wChapters0:00 Intro1:55 Wickes Overview5:25 WIX value proposition and customer base10:25 Amazon risk12:00 WIX valuation15:15 WIX and the death of retail narrative18:10 Opportunity cost of WIX versus other retailers20:45 Spin-off dynamics21:55 Are the spin-off dynamics real?24:55 Does being independent accelerate WIX growth?28:05 The economics of store refits31:25 Management incentives34:05 WIX downside protection35:05 Do you read anything into WIX installer poor reviews?39:35 WIX Trade Pro side42:15 WIX digital sales44:15 Upcoming de-merger costs48:10 Other situations on Conor's radar49:10 Discussing DOLE51:20 Kenmare Resources