WHSmith has confirmed it is exploring the potential sale of its high street retail business.
The 232-year-old company issued a statement at the weekend following recent media speculation that it intended to sell the portfolio of circa 500 stores.
The retailer said: “WHSmith confirms that it is exploring potential strategic options for this profitable and cash generative part of the group, including a possible sale.”
WHSmith said that over the past decade it had become a “focused global travel retailer” operating more than 1,200 stores across 32 countries. Three-quarters of the group’s revenue and 85% of its trading profit comes from its travel business.
In its statement, the company added “there can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate”.
