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 reviews.
The corporate was holding “secret talks” concerning the sale of its complete excessive avenue arm, which has greater than 500 shops, Sky Information first reported on Saturday.
Responding to the reviews, 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 potential sale.”
The corporate stated there was no certainty that any settlement could be reached, and that it will present updates on the method “as and when acceptable”.
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 nations.
“Three-quarters of the group’s income and 85% of its buying and selling revenue comes from the journey enterprise,” it stated.
