Sat, 25 Jan 2025

WH Smith in talks to sell high street stores

The business says it is exploring a possible sale as its travel retail business arm accounts for most of its profits.

* WH Smith is exploring options to sell its high street stores, which make up around 15% of its business.
* The company has been focused on growing its travel retail arm, which now accounts for over 85% of its profits and has 1,200 stores across 32 countries.
* WH Smith's high street stores have struggled in recent years, with revenue dropping by £17m in the past year despite profits staying the same after store closures.
* The company employs around 5,000 people at its high street shops and operates Post Office counters in over 200 of these locations.
* WH Smith is valued at £1.5bn, representing the value of the entire group.
* Industry experts say that selling the high street business would allow WH Smith to focus on its more profitable travel retail arm.
* The company's decision comes as a number of other retailers have struggled on the UK's high streets, including Wilko and Debenhams.
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