WHSmith has reported that a challenging year has led to a headline loss of £69m before tax.
The company’s preliminary results, published today (12 November), also revealed the retailer’s plans to close 25 high street stores.
“While this is not an easy decision to make for our colleagues or the communities we serve, it is vital we retain a strong and cash generative high street portfolio going forward,” WHSmith said.
Carl Cowling, group chief executive, explained that the retailer has been “heavily impacted” by the pandemic.
He said: “We have a robust plan across all our businesses focusing on cost management and initiatives within our control which support us in the immediate term and position us well to emerge stronger as our markets recover.”
Share