WHSmith is in discussion to sell its high street division of stores. The retailer has said it is shifting its focus to its more profitable travel retail business in airports, train stations and hospitals. At the moment, the high street stores contribute just 15% of the groups annual trading profit. WHSmith is set to close 17 stores.
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00:00WH Smith is in discussion to sell its High Street division of stores. The retailer has
00:05said it is shifting its focus to its more profitable travel retail business in airports,
00:11train stations and hospitals. At the moment, the High Street stores contribute just 15%
00:16of the group's annual trading profit. WH Smith is set to close 17 stores. A statement
00:22from the retailer said that WH Smith confirms that it is exploring potential strategic options
00:28for this profitable and cash-generative part of the group, including a possible sale. The
00:34retailer originally opened its first shop 230 years ago. While some of the brand's
00:40High Street stores are set to close, WH Smith is also reportedly planning to open 90 new
00:45stores at different sites. In a statement to BBC News, WH Smith also described its partnership
00:52with the post office as an important part of its business and have confirmed that post
00:56offices will stay if a sale goes ahead.