Full Year Results 

WH Smith is changing

WH Smith is changing

WH Smith (SMWH) is a business in flux. For the first time in the group’s history, sales from travel outlets now contribute more to the top line than the stationer’s high street shops. But that doesn’t mean the high street side of the business doesn’t have a future, says chief executive Stephen Clarke. Only three shops closed during the last financial year, and a new site in Hungerford has just opened its doors. Like-for-like sales may have fallen by 4 per cent last year on the high street – compared with a 4 per cent rise across travel – but trading profit reported flat at £62m.

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