Thu, 21 Aug 2025

Thu, 21 Aug 2025 WH Smith shares tumble 42% after accounting blunder

The retailer has drafted in auditors to review the issue and slashed its profit guidance.
WH Smith shares fell by 42% on Thursday due to an accounting error that overestimated profits from North America. The company has cut its profit forecast for the region from £55m to around £25m for the year to August. As a result, WH Smith's annual pre-tax profits are now expected to be around £110m, down from an initial forecast of £150m. The company has ordered a review by auditors Deloitte into the error, which it says was due to a mistake in calculating supplier income. Analysts have described the blunder as a "huge embarrassment" and a "disaster" for WH Smith's growth ambitions. WH Smith is now focusing on its travel retail business, which includes airport and railway station stores. The company sold its UK High Street division earlier this year and replaced it with the TGJones brand.
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