UK’s WH Smith says it’s exploring potential sale of excessive road arm

LONDON (Reuters) -British retailer WH Smith is exploring potential strategic choices for its UK excessive road enterprise, together with a sale, it stated on Saturday after media studies.

The corporate was holding “secret talks” in regards to the sale of its complete excessive road arm, which has greater than 500 shops, Sky Information first reported on Saturday.

Responding to the studies, 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 can be reached, and that it will present updates on the method “as and when applicable”.

WH Smith’s excessive road 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.