Articles tagged whsmith

Retail News - Kate Swann seeks stock market listing for SSP

Kate Swann, former head of WHSmith is returning to the City as SSP her food and retail chain seeks a stock market listing of £2 billion.

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Retail News - WH Smith announces share buy-back as profits rise

WH Smith managed to beat forecasts for the year with a six per cent rise in profit thanks to focusing on improving margins and reducing costs instead of growing underlying sales.

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Retail News - WH Smith on track for annual forecasts as cost saving strategy pays off
Photo credit: WH Smith

Despite sustained pressure on consumer spending, books to stationery retailer WH Smith has said it will meet full year forecasts as its strategy to improve profit margins and save on costs continues to pay off for the company. In an announcement on Thursday, WH Smith said its high street business had continued to deliver a solid performance despite tough comparatives from the year before, when a busy publishing schedule made the second half of the fiscal year hard to beat.

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Retail News - WH Smith starts to trial in independent retailers

In aim to expand its network, the British retailer, WH Smith has commenced trial franchising its brand to independent newsagents.

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Retail News - WHSmith kiosks to appear in Russian railway stations
Photo credit: WHSmith

British retailer WHSmith have announced that they have struck a deal with Russia’s railway stations to open stores selling newspapers, snacks and stationery. According to Russia business newspaper Kommersant, the franchise stores will be operated by Tsvetnoi Bulvar, the company owned by PNN Group.

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Retail News - WHSmith hit with 6% drop in like-for-like sales
Photo credit: WHSmith

WHSmith PLC on Thursday revealed total group sales in the 14 weeks to 3 March fell 5 per cent, while like-for-like sales dropped 6 per cent compared with the same time last year. Despite WHSmith’s investment in the travel side of its business across the last few quarters, total sales at airports, stations and motorway service stations were flat, with like-for-like sales falling 4 per cent for the period.

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Retail News - WH Smith posts 5% rise in pretax profits as travel business steams ahead
Photo credit: WH Smith PLC

Pretax profits rose 5 per cent in WH Smith’s first half, as reduced costs helped to offset a fall in sales. The books to stationery retailer on Thursday revealed pretax profit rose to £69 million in the 6 months to 28 February. Total group sales on a like-for-like basis fell 5 per cent although by cutting costs, the retailer was able to improve its gross margin by 160 basis points.

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Retail News - WH Smith chief Kate Swann collects £3.3m in final year at the top
Photo credit: WH Smith

WH Smith chief executive Kate Swann, who will step down from her position next summer after 10 years, collected £3.3 million in salary and long term share payouts this year. According to a report by the Guardian citing the company’s annual report, Swann could also be in line for another £2.6 million pay-out thanks to long-term incentive plans.

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Retail News - Against the odds, WHSmith smashes £100m profit
Photo credit: WHSmith

WHSmith is this week expected to announce profits rose 9 per cent to £101 million for the year, as the retailer continued to perform against the odds of a turbulent high street. The newsagent will reveal on Thursday that profits in the year to August will pass the £100 million profit mark for the first time since chief executive Kate Swann was drafted in to revamp the business nine years ago.

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Retail News - American Greetings and WHSmith circle Clinton Cards

Clinton Cards, which recently collapsed into administration, is reportedly being courted by American Greetings, WHSmith and Card Factory.

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