UK’s WH Smith says it’s exploring potential sale | Inventory Information
LONDON (Reuters) -British retailer WH Smith is exploring potential strategic choices for its UK high avenue business, together with a sale, it stated on Saturday after media studies.
The company was holding “secret talks” concerning the sale of its complete high avenue arm, which has more than 500 shops, Sky Information first reported on Saturday.
Responding to the studies, the group stated: “WH Smith confirms that it is exploring potential strategic options for this profitable and cash generative part of the group, including a possible sale.”
The company stated there was no certainty that any settlement could be reached, and that it might present updates on the method “as and when appropriate”.
WH Smith’s high avenue arm is an element of the retailer’s more profitable journey business, which has round 1,200 shops throughout 32 international locations.
“Three-quarters of the group’s revenue and 85% of its trading profit comes from the travel business,” it stated.
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