Travel restrictions dampen WH Smith’s annual results September 1, 2021 WH Smith has reported that its annual results fall far short of pre-pandemic levels as Covid-19 travel restrictions continue to bite. In a preview of the group’s annual financials, it revealed that total revenue for the second half of 2021 was at 65 per cent of pre-covid levels, climbing to 71 per cent in the [...]
WH Smith’s airport takeover is InMotion after Dixons Travel shop deal July 8, 2021 WH Smith's airport takeover is InMotion after Dixons Travel shop deal
WH Smith launches £325m bond offering as retailer swings to first-half loss April 29, 2021 WH Smith warned it could breach its covenant tests next year as it revealed it swung to a first-half loss and launched a £325m bond offering. The newsagent chain announced yesterday evening that it was possible that “the group would not meet the conditions of the August 2022 covenant tests”. It posted a loss of [...]
YO! food chain to partner with WH Smith as high streets reopen April 12, 2021 Asian food chain YO! is set to trial a partnership with WH Smith this month, bringing to-go food to stores as high streets begin to reopen today. The move signals the food group’s expansion into on-the-go food and away from sit-in dining, as it also has similar partnerships with Sainsbury’s, Co-op, Tesco’s and David Lloyd Leisure [...]
WH Smith reduces cash burn after beating lockdown trading expectations March 9, 2021 WH Smith said this morning reduced its monthly cash burn forecasts, saying its trading performance had beaten its expectations during lockdown. The firm reported to stronger than forecast revenue across its high street stores and “significant” online growth. The newsagent chain said revenue in its high street business in January 2021 reached 74 per cent [...]
WH Smith expects £20m monthly cash burn as restrictions continue January 20, 2021 WH Smith expects a monthly cash burn of £15m to £20m from January to March 2021, assuming Covid-19 restrictions stay as they are. Trading at the book and stationary chain was ahead of plan toward the end of 2020, so the business had some £340m of available cash and facilities at the end of December [...]
WH Smith scraps dividend as it crashes to £280m loss November 12, 2020 WH Smith has scrapped its dividend for the full year as the pandemic drove it to a pre-tax loss of £280m. The figures WH Smith posted revenue of £1bn in the year to the end of August, down 33 per cent on last year. The company swung to a pre-tax loss of £280m, compared to [...]
WH Smith to cut 1,500 jobs as high street and travel footfall plummets August 5, 2020 WH Smith is preparing to cut 1,500 jobs, the high street retailer announced this morning, as it warned it expects to post a full-year loss of £75m due to the coronavirus pandemic. The retailer said it is reviewing its store operations across both its travel and high street businesses due to lower high street footfall [...]
WH Smith revenue dives 85 per cent during coronavirus lockdown May 14, 2020 WH Smith reported an 85 per cent drop in revenue for last month after the coronavirus lockdown forced the retailer to close high street and transport hub stores. The newsagent chain said travel revenue plunged 91 per cent due to travel bans around the world, and high street revenue was down 74 per cent. WH [...]
Coronavirus: WH Smith raises £165.9m through share placing April 7, 2020 WH Smith has raised around £165.9m through a share placing to shore up its balance sheet amid the coronavirus crisis. The retailer was forced to tap investors for a cash injection after the outbreak forced it to close its travel business and the majority of high street stores. WH Smith can now access a £120m [...]