WHSmith to restructure high street approach

Published on: 11th October 2018

Citing a tough retail environment, the retailer is set to restructure its operational activities and close several high street stores.  

As reported by Reuters, books, newspaper and stationery retailer WHSmith has announced that it plans to restructure its high street business, shoring up its operations as retailers face lower consumer spending and lingering economic uncertainties.

WHSmith, which operates 839 travel outlets and 607 high street stores in the UK, said it would wind down non-core trial initiatives including Cardmarket and WHSmith Local, restructure some operational activities and close around six high street stores.

The company also said group pretax profit declined 4% to £134m in the year ended August. High street trading profit fell 3% to £60m.

“We are not ignoring the broader challenges on the UK high street and, during the second half, we conducted a business review to ensure our high street business is fit for purpose now and for the future,” Chief executive officer Stephen Clarke said in a statement.

Total revenue from the high street business was down 3% with comparable sales also falling 3%.

Competition from online retailers has left many high street firms struggling, and traditional bricks-and-mortar clothing retailers like Marks & Spencer and Debenhams have seen profits slump and are closing stores.

The problems on the high street have contrasted with a brighter outlook for the WHSmith’s travel business, which sells items such as snacks and newspapers at various locations including airports and railway stations at home and abroad.


Ricky Zoom marketing

Tomy prepares to roll-out Ricky Zoom marketing campaign

Build Your Own launches eco-friendly Microscope kit

Exclusive: Indie toy retailers welcome back looking forward

Lego Young Explorer

Lego and National Trust partner on Young Explorer competition

Exclusive: Looking ahead with Simba Smoby Toys UK

Panini poised to launch new NFL and NFLPA collection

Flowhaven announces new London office

WWE collectibles

WWE collectibles range proves a sell-out success for PMI

KAP Toys

Exclusive: To KAP it all – KAP Toys MD Nat Southworth talks to Toy World

first half toy sales

NPD Group reveals global first half toy sales