WH Smith to raise £100m as it warns on profits due to Iran war
Overview
Retailer plans to shut unprofitable stores as shopper numbers at airports fall amid Middle East conflict
WH Smith has issued a profit warning after shopper numbers at its stores in US airports fell as a result of the war in the Middle East.
Details
The retailer, which operates 1,200 outlets globally in airports, railway stations and hospitals, also announced plans to raise about £100m to strengthen its balance sheet, pay down debt, invest in technology and shut down unprofitable stores after “a downturn in trading conditions”.
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Originally published at www.theguardian.com.