WH Smith considering sale of high street business

WH Smith has confirmed it is in talks to potentially sell its high street business. A statement on Saturday said the company "was exploring potential strategic options for this profitable and cash-generative part of the group, including a possible sale".

WH Smith’s travel business – which includes shops in airports and train stations – has more than 1,200 stores across 32 countries. The group added in the statement that three-quarters of the group’s revenue and 85% of its trading profit comes from the travel business. It also employs around 5,000 people at its high street shops.

However, the company added that nothing was decided yet and "there can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate".