WH Smith plans high-street closures

WH Smith plans high-street closures

WH Smith (SMWH) hasn't been immune to the pressures plaguing British high street retailers. As such, the stationer is reviewing its high street business to ensure it remains 'fit for purpose'. The move will see the wind down of what management feels are "non-core initiatives", such as Cardmarket and franchise business WH Smith Local, alongside the closure of six high street stores with onerous leases. So far this has cost £9m, with another £5m due to be spent on restructuring efforts during the current financial year. For the year to August, trading profit across 607 high street stores fell 3 per cent to £60m.

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