British retailer WH Smith has announced it is in discussions to potentially sell its high street stores. He Considers selling historic high street stores as it shifts to travel retail focus.
In a statement released on Saturday, the company confirmed it is “exploring potential strategic options for this profitable and cash-generative part of the group. It also includes a possible sale.”
Over the past decade, WH Smith has transitioned into a “focused global travel retailer” . Now he is operating more than 1,200 stores across 32 countries. The high street division, which once served as the backbone of the business, now accounts for less than 15% of its profits.
The company’s first store opened in 1792 as a news vendor. Since then, WH Smith has grown into a major retailer with over 500 high street locations. However, the majority of its profits now stem from its travel retail operations in airports, train stations, and hospitals.
Impact of Travel Retail Shift on WH Smith’s High Street Sales
While the retailer emphasized that “no certainty” exists regarding an agreement, it promised to provide updates on the process.
WH Smith’s total valuation stood at £1.5bn at the close of trading on Friday, reflecting the worth of the entire group.
Catherine Shuttleworth, a retail analyst at Savvy Marketing, attributed the potential sale to changes in UK shopping behavior. She noted that fewer customers visit stores like WH Smith as more people read news online, download books, and send cards digitally.
“The focus for a business like WH Smith is now in high-footfall locations such as airports, stations, and hospitals,” Shuttleworth explained.
Revenue from the retailer’s high street stores dropped by £17m in 2024, though profits remained steady after 14 store closures. WH Smith has also been experimenting with initiatives, such as hosting Toys R Us shop-in-shops, with 30 opening in 2024 and another 37 planned by Christmas.
Chief executive Carl Cowling reaffirmed that the company’s strategy remains focused on travel retail. He is particularly expanding in the UK, US, and Europe, while moving away from opening new high street stores.