WH Smith
This coverage examines WH Smith’s operations and strategy within the UK retail sector, focusing on travel and high-street store performance, product range adaptations, supply chain logistics, and digital initiatives. Reporting highlights leadership decisions, market positioning, and consumer trends, offering insights for retail executives, category managers, and professionals in travel and convenience retail.
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Apr- 2021 -29 AprilHigh Street
WH Smith launches fundraise to open 100 new travel stores
WH Smith has unveiled plans to open around 100 new travel stores after launching a £325 bond offering in convertible bonds, despite reporting losses in its half-year results. The group, which also secured a £250m revolving credit facility with an extended maturity to 2025, said the funds will aid the…
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Mar- 2021 -9 MarchHigh Street
WH Smith lockdown trading exceeds expectations
WH Smith has revealed that the group has delivered a “better than expected performance” during the latest lockdown period. According to the high street retailer, it has “adapted well” to the evolving trading environment and despite reduced footfall, revenue in its High Street business in January 2021 was at 74%…
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Jan- 2021 -21 JanuaryHigh Street
WH Smith postpones CEO’s £25k pay rise
WH Smith has revealed it has postponed its planned £25,000 pay rise for its CEO Carl Cowling, after 33% of its shareholders voted against the move. In an update posting the results of its AGM, it revealed that despite the move to approve the Directors’ Remuneration Report being passed, it…
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20 JanuaryHigh Street
WH Smith trading ‘better than anticipated’
WH Smith has posted its trading update for the 16 weeks to January, with the company reporting a “better than anticipated” sales performance. The group has said it adapted well to the “evolving trading environment” on the high street, with revenue in stores in December at 92% of 2019 levels. …
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Nov- 2020 -12 NovemberHigh Street
WH Smith swings to £226m loss
WH Smith has swung to a pre-tax loss of £226m in the 12 months ending 31 August 2020, down from a £135m profit reported last year. Group revenue for the retailer also fell 33% to £1.02bn in the period, down from £1.39bn the previous year. Liquidity increased to £200m, up…
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Aug- 2020 -10 AugustHigh Street
WH Smith seeks rent cuts
WH Smith is reportedly seeking rent cuts from its landlords as it looks to cut costs. According to The Sunday Times, the retailer has drafted in advisers Gerald Eve to negotiate with landlords across its portfolio of over 1,000 UK stores located on the high street and at travel hubs. …
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5 AugustHigh Street
WH Smith to axe 1,500 roles
WH Smith has launched a collective consultation that could see around 1,500 roles across the business axed in a bid to restructure the business. It comes as the group said it expects to deliver a full-year loss of between £70m and £75m following impacted sales. The retailer said that the…
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Jun- 2020 -2 JunePeople Moves
Tesco CFO Alan Stewart announces plans to step down
Tesco has announced that CFO Alan Stewart has decided to retire from the position and leave the company on 30 April 2021. The company board is now conducting both an internal and external search to identify a successor. Stewart joined the grocer in 2014, as a member of the board…
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May- 2020 -14 MayCoronavirus
WH Smith sales plunge 85% amid lockdown
WH Smith has revealed that group total revenue plunged 85% in April in light of the ongoing pandemic. Following the nationwide and global lockdown, travel revenue plummeted 91% last month, while high street revenue tumbled 74%. It comes as the retailer closed most of its UK stores, excluding 203 Post…
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Apr- 2020 -7 AprilCoronavirus
WH Smith raises £166m through share placing
WH Smith has raised £166m through a share placing in efforts to shore up its finances amid the ongoing coronavirus pandemic. A total of 15,751,826 new ordinary shares were placed at 1050p per share, with existing and new investors. The move raised a total of £165.9m for the group. The…
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