UK’s WH Smith says it’s exploring potential sale of excessive road arm By Reuters
LONDON (Reuters) -British retailer WH Smith is exploring potential strategic choices for its UK excessive road enterprise, together with a sale, it mentioned on Saturday after media studies.
The corporate was holding “secret talks” in regards to the sale of its whole excessive road arm, which has greater than 500 shops, Sky Information first reported on Saturday.
Responding to the studies, the group mentioned: “WH Smith confirms that it’s exploring potential strategic choices for this worthwhile and money generative a part of the group, together with a doable sale.”
The corporate mentioned there was no certainty that any settlement could be reached, and that it could present updates on the method “as and when applicable”.
WH Smith’s excessive road arm is a part of the retailer’s extra worthwhile journey enterprise, which has round 1,200 shops throughout 32 nations.
“Three-quarters of the group’s income and 85% of its buying and selling revenue comes from the journey enterprise,” it mentioned.
