LONDON (Reuters) -British retailer WH Smith is exploring potential strategic choices for its UK excessive avenue enterprise, together with a sale, it stated on Saturday after media experiences.
The corporate was holding “secret talks” in regards to the sale of its total excessive avenue arm, which has greater than 500 shops, Sky Information first reported on Saturday.
Responding to the experiences, the group stated: “WH Smith confirms that it’s exploring potential strategic choices for this worthwhile and money generative a part of the group, together with a attainable sale.”
The corporate stated there was no certainty that any settlement can be reached, and that it could present updates on the method “as and when applicable”.
WH Smith’s excessive avenue arm is a part of the retailer’s extra worthwhile journey enterprise, which has round 1,200 shops throughout 32 international locations.
“Three-quarters of the group’s income and 85% of its buying and selling revenue comes from the journey enterprise,” it stated.
