WH Smith to close around six High Street stores

By Paul Norman - Thursday, October 11, 2018 13:08

WH Smith said today it will shut around six High Street stores as it posted poor trading figures.

In the year to August, trading profit at its high street stores slipped to £60m from £62m 

The group also said it was cutting its dividend payout and will buy back £50m worth of its own shares, thanks to strong trading at the airport and train station stores that now provide the vast bulk of its profits.

The famous high street name also said it would be taking a “forensic” approach to its cost base and will “wind down” projects such as WH Smith Local, a trial of franchised stores, and Cardmarket, a standalone, budget greetings card chain.

pnorman@costar.co.uk

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