WH Smith is exploring “strategic options” for its high street business in Britain, including a sale, 230 years after it opened its first shop in central London.
“WH Smith confirms that it is exploring potential strategic options for this profitable and cash generative part of the group, including a possible sale,” a statement by the retailer said.
Over the past decade, the firm has focused on its more lucrative, travel retail business which operates from airports, train stations and hospitals.
The high street business now accounts for only about 15 per cent of annual group trading profit.
“Over the past decade, WH Smith has become a focused global travel retailer,” the statement added
“The group’s travel business has over 1,200 stores across 32 countries, and three-quarters of the group’s revenue and 85 per cent of its trading profit comes from the travel business.
“There can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate.”
This is a breaking news story and is being updated.
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