WH Smith set for high street store closures after profits fall

By Richard Hook2018-10-11T10:38:00

WH Smith has become the latest retail chain to announce a series of store closures after posting a fall in annual profits for its high street division.

In the year to August, profit at WH Smith’s high street stores fell to £60m from £62m at the same point last year, and like-for-like revenues fell 3%.

The retailer, which launched in 1985, and currently has 607 high street stores. It is proposing to close six main brand stores and 20 stores trading under its budget greeting card brand Cardmarket, and to end a trial of smaller WH Smith Local stores.

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