WH Smith profits suffer after £155m purchase of US airport store In Motion April 11, 2019 WH Smith suffered a huge drop in profit in its half year as the costs of its purchase of US airport retailer In Motion grounded its bottom line. The figures Group revenue grew eight per cent year on year to £695m for the six months to the end of February as the stationery chain relied [...]
Fuller’s pubs chief executive Simon Emeny joins WH Smith board February 26, 2019 The chief executive of Fuller's pubs has joined the board of WH Smith to sit as a non-executive director, the high street retailer announced this morning. Simon Emeny, group chief executive of London brewery Fuller, Smith and Turner, will be joined by Greensill Capital chairman and former Citibank chief executive Maurice Thompson. Read more: Surge [...]
SSP boss Kate Swann faces shareholder backlash over executive pay February 10, 2019 SSP chief executive Kate Swann is facing a shareholder rebellion over her £6.2m pay packet. Proxy advisor Glass Lewis recommended that investors vote against Swann’s remuneration package at a meeting later this month as the level exceeds the compensation received by chief executives at similar firms. Read more: City boss Kate Swann leaves SSP with 'petrol [...]
Surge in travel sales gives WH Smith Christmas treat despite high street slump January 23, 2019 WH Smith posted a rise in sales over the crucial Christmas trading season, after the retailer benefited from a rise in travel sales as it continues to move its focus from high streets to airports and train stations. The figures Total sales were up six per cent in the 20 weeks to 19 January. In [...]
Fears over business rates mount as Britain’s major retailers prepare to form action group January 13, 2019 Some of Britain’s biggest retailers are coming together in an urgent bid to seek business rates relief from the government, CityAM has learned. Around 50 major high street names are joining a mass lobbying effort to curb forthcoming rises in their property tax, as profits plunge in the face of falling sales and online [...]
Shareholders yearn for retail chiefs like Swann November 22, 2018 It has been an annus horribilis for the high street. Closures, job cuts and profit warnings in the last 12 months have all thrown scrutiny on the industry – and its bosses – like never before. Which is why yesterday’s announced departure of SSP chief executive Kate Swann is all the more significant. Swann is [...]
City heavyweight Kate Swann says she’s leaving Upper Crust owner SSP with ‘petrol in the tank’ November 21, 2018 City veteran Kate Swann revealed today that she plans to step down from food and beverages giant SSP Group, saying that she wants to leave the Upper Crust owner with "petrol in the tank". Investors digested the news of the former WH Smith chief executive’s departure from SSP this morning, with shares tumbling on the announcement despite the [...]
Homebase named the UK’s worst retail website in rescue deal aftermath November 13, 2018 DIY retailer Homebase has been named the UK's worst online shopping website, alongside a plethora of other familiar names in a survey conducted by independent consumer body Which?. Homebase received a rating of 55 per cent as part of a survey with over 10,000 consumers evaluating their experiences online. Customers said they found the site [...]
WH Smith to expand into US airports after £155m deal for accessories outlet In Motion October 30, 2018 WH Smith's share price rose over five per cent this morning on news it will expand its brand into US airports after buying American travel accessories outlet In Motion. The $198m (£155m) deal sees the British retailer take over 114 stores across some of the busiest airports in the US. It doubles the size of WH [...]
WH Smith’s share price slides over 10 per cent as retailer promises to restructure stores October 11, 2018 Shares in retailer WH Smith slumped more than 13 per cent in trading today, after its preliminary annual results revealed plans to restructure its high street business amid a challenging trading environment. Its share price fell to a low of 1,748p this morning, crashing down from its opening price of 1,963p. Read more: WH Smith to [...]