WH Smith Considers Sale of High Street Business Amid Shift to Travel Retail

2025-01-25

WH Smith, the historic British retailer, is in talks to sell its high street business, which includes more than 500 stores across the UK. The company, which first opened its doors in 1792, has confirmed it is exploring “potential strategic options” for this part of its operations, including a possible sale. The move comes as WH Smith shifts its focus towards its more profitable global travel retail business, which now accounts for 85% of its profits.

The high street division, which employs around 5,000 staff, has faced challenges in recent years due to changing consumer habits and increased competition from online retailers. Revenue from high street stores dropped by £17 million in 2024, while profits remained flat. The company has already closed 14 high street stores in the past year and plans to close an additional 17 in 2025.

WH Smith’s travel retail business, which operates in airports, train stations, and hospitals across 32 countries, has seen significant growth. The company has opened 30 Toys R Us concessions within its stores and plans to expand further in the US and Europe. Chief Executive Carl Cowling has stated that the retailer will not open any new high street stores in the UK, instead focusing on its travel retail operations.

The potential sale of the high street business marks a significant moment in the history of the British high street, which has seen the decline of several major retailers in recent years. WH Smith’s high street stores, once a staple for newspapers, books, and stationery, have struggled to compete in an increasingly digital world. The company has not confirmed any buyers yet, but investment bank Greenhill has been appointed to oversee the sale process.

While the sale is not guaranteed, WH Smith has stated it will provide updates as appropriate. The retailer’s market value stands at £1.5 billion, with the high street division contributing just 15% of the group’s total profit. The move reflects a broader trend in the retail sector, where businesses are increasingly focusing on high-footfall locations and travel hubs.

WH Smith in talks to sell high street stores

The business says it is exploring a possible sale as its travel retail business arm accounts for most of its profits.

www.bbc.co.uk

WH Smith considers sale of high street business including more than 500 stores

Retailer says it plans to explore ‘strategic options’ for the future of ‘cash generative’ arm of the company

www.theguardian.com

WH Smith in secret talks to sell historic high street arm

London-listed WH Smith is in negotiations to sell the high street operation which opened its first store in central London in 1792, Sky News can exclu

news.sky.com