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2025-01-29 10:51:00
WH Smith has revealed a drop in Excessive Road gross sales amid talks of promoting 500 of its UK retailers.
Its Excessive Road gross sales fell 6% within the 21 weeks to January 25, masking the important thing Christmas interval, down 3% on the earlier 12 months.
The corporate already has plans to shut 17 UK shops in 2025, having closed 14 in the course of the previous monetary 12 months.
However regardless of struggles on the Excessive Road, WH Smith noticed a lift from its journey arm, saying its journey enterprise “delivered one other wonderful efficiency”, with plans to develop within the US.
Carl Cowling, group chief government mentioned: “The group is in a powerful place, and whereas there may be some financial uncertainty, we’re assured of one other 12 months of fine development in 2025.”
The historic UK enterprise, which was established 233 years in the past, confirmed it had held talks on the weekend concerning the potential of promoting its Excessive Road shops, which make use of about 5,000 folks, to give attention to its journey retail enterprise, which operates from airports, practice stations and hospitals.
It informed the BBC that the submit places of work inside 195 of its retailers would stay ought to the sale of that a part of its enterprise goes forward.
The journey retail enterprise aspect of WH Smith now accounts for greater than 85% of its revenue and operates 1,200 shops throughout 32 nations.
The corporate mentioned in its newest outcomes that it deliberate to open extra shops in US airports.
“In North America, we’ve seen a notable shift in like-for-like income development, up 3%, on account of the actions we’ve taken to reinforce our ranges and introduce new classes,” Mr Cowling mentioned.
He introduced that the retailer has “gained” contracts for eight shops at Orlando airport in Florida, on high of 4 extra shops at Portland airport in Oregon and has plans for 60 shops in whole within the US.
Again within the UK, the retailer mentioned it left the Christmas buying and selling interval on monitor to ship its goal of full 12 months value financial savings of £11m.
Analysts have predicted its Excessive Road enterprise could possibly be offered for £100m or extra within the coming months.
Studies have advised personal fairness suitors are eyeing a deal to take management of the retailer’s retailers.
