WH Smith takes pandemic beating as spending dips at its travel stores in airports and train stations January 19, 2022 WHSmith has revealed the Omicron variant led to a fall in spending at its travel stores in airports and train stations during the final four months of 2021. The retailer added that high-street sales managed to improve during the same period – including in December as infection rates rose – however, overall, the company’s sales [...]
WH Smith faces investor revolt over executive pay January 16, 2022 WH Smith faces a revolt from investors after it was announced boss Carl Cowling was in line for a £550,000 bonus despite the firm not paying back government pandemic support.
WH Smith hails ‘good start’ to the year despite loss of £104m November 11, 2021 Retailer WH Smith has hailed a “good start” to the new financial year amid a continued recovery in its travel stores. It came as the company reported a group pre-tax loss of £104m for the year to August, reducing its losses from £226m last year. Meanwhile, total revenues for the year dropped by 13% against [...]
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 [...]