WHSmith, the British high street retailer, is in talks to sell 500 stores, marking a significant shift away from its traditional physical presence. The company plans to focus on its successful travel retail business, which includes airport, train station, and hospital locations. WHSmith's high street arm has struggled in recent years, with profits declining while the travel division has seen significant growth. The company aims to expand its travel shops globally, particularly in North America.
It’s yet another blow to the troubled British high street WHSmith, the high street favourite that’s sold magazines, stationary and puzzle books for decades, is set to close hundreds of stores. The brand, which opened its first branch some 233 years ago, is in ‘secret talks’ to sell 500 high street stores that employ some 5,000 people. This would all but bring an end to its entire high street business, SkyNews reported, as the retailer focuses more as a go-to for travel essentials.
‘We continue to make excellent progress in this division, growing our space and broadening our categories as we transition to a one-stop-shop for travel essentials,’ he added. WHSmith is also hoping to expand its travel shops across North America, with 60 new stores in the works. Another 15 in major US airports are up for grabs. The retailer’s high street arm, however, has been anything but. Profits tumbled 9.3% to £39,000,000.
Whsmith Retail Travel High Street Closure
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