As part of its restructuring strategy, WHSmith will shut 17 of its high street stores as the retailer focusses on more profitable locations in airports and rail stations.
The latest round of closures has already started with branches in Bournemouth and Luton shuttered last week and six more to close in February, with the remainder closing over March, April and May.
The business is prioritising growth in travel locations such as airports and rail stations, as the latest figures from the group (November 2024) show that group revenue is up 7%, driven by a 11% increase on the Travel side.
With the shift in focus to travel, the High Street division is becoming a smaller part of the overall Group. This division now accounts for around 15% of full year Group profit from trading operations.
Carl Cowling, group chief executive, commented: “Our Travel divisions are trading well with a particularly strong performance from our UK Travel business, with trading profit up 20% to £122m. We are making excellent progress in the UK as we continue to benefit from the rollout of our one-stop-shop format which is creating significant opportunities to further grow profitability.”
