WH Smith High Street Sales Fall Fall to Talk to Selling
WH Smith has revealed a decline in high road sales amidst talks of selling 500 from his UK shops.
Its high road sales fell 6% by January 25 in 21 weeks, which cover the Christmas period, 3% below the previous year.
The company already plans to close 17 UK stores in 2025, which has closed 14 during the last financial year.
But despite the struggle on high street, WH Smith saw a boost from his traveling branch, saying that its travel business “gave another excellent performance”, which plans to expand into the US.
Carl Cowling, Chief Executive of the group said: “Group is in a strong position, and while some economic uncertainty, we are confident for another year of good growth in 2025.”
The historic UK business, which was established 233 years ago, confirmed that he had a conversation over the weekend about the possibility of selling his high street stores, which employs about 5,000 people, focusing on his travel retail business To concentrate, which operates by airports, trains. Station and Hospital.
This told the BBC that Post offices within 195 of its shops Will remain that the sale of that part of his business goes ahead.
WH Smith’s travel retail trade side now exceeds 85% of its profit and operates 1,200 stores in 32 countries.
The company said in its latest results that it plans to open more stores in American airports.
“In North America, we have seen a notable change in revenue growth like 3%, such as 3%, as a result of the actions to increase our boundaries and introduce new categories,” said Mr. Cowling.
He announced that the retailer has a “won” contract for eight stores at the Orlando Airport in Florida, at the top of four and a total of 60 stores at the top of four and the US at the Portland Airport in Oregon and a total of 60 stores in the US.
Back to the UK, the retailer stated that he left the Christmas trading period on the track, so that the cost of saving a full year of £ 11m could be met.
Analysts have predicted that its high road business may be sold for £ 100m or more in the coming months.
Reports have suggested that private equity suitors are making a deal to control the retailer shops.
