WH Smith has revealed a drop in Excessive Road gross sales amid talks of promoting 500 of its UK outlets.
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 glorious efficiency”, with plans to increase within the US.
Carl Cowling, group chief govt mentioned: “The group is in a powerful place, and whereas there’s 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 relating to the opportunity of promoting its Excessive Road shops, which make use of about 5,000 individuals, to deal with its journey retail enterprise, which operates from airports, prepare stations and hospitals.
It advised the BBC that the put up places of work inside 195 of its outlets would stay ought to the sale of that a part of its enterprise goes forward.
The journey retail enterprise facet 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%, because of the actions we’ve taken to boost 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 complete within the US.
Again within the UK, the retailer mentioned it left the Christmas buying and selling interval on observe to ship its goal of full 12 months value financial savings of £11m.
Analysts have predicted its Excessive Road enterprise might be offered for £100m or extra within the coming months.
Studies have urged non-public fairness suitors are eyeing a deal to take management of the retailer’s outlets.