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WH Smith is shifting their focus from high street stores towards more profitable travel locations. The retailer announced that a recent 16 per cent rise in annual profits was down to their stores in railway stations, airports and hospitals while earnings are stagnant on the high street. The posting comes just days after it was announced the Bolton town centre was closing due to redevelopment of Crompton Place.
However, WH Smith confirmed they would not be opening a new outlet in the centre. WH Smith does have a retail outlet in Bolton interchange hub. WH Smith has opened 14 stores in UK travel sites over the last financial year, while high street stores shut, including the announcement that the Bolton town centre was closing.
A spokesperson for WH Smith said: “As we grow travel, the high street division will become a smaller part of the overall group.” They confirmed that the high street business accounts for around 15 per cent of their annual group trading profit. The news comes as WH Smith announced this week that their Bolton store would be closing for good in February.
A spokesperson said they were ‘disappointed’ to be pulling out of Bolton town centre and thanked customers for their support. A spokesperson for WH Smith said: “We can confirm that the WHSmith store in Bolton will be closing early next year owing to the landlord’s redevelopment plans. “We are disappointed to be losing our presence in Bolton and we would like to thank all our customers for their support and for shopping with us.
“We are also extremely grateful for the commitment of our in store colleagues who we will support with this transition and redeploy to nearby stores, where possible.” A staff member told The Bolton News that the closure date was either February 14 or 15. A 30 per cent off sale is now on in the store on Victoria Square.
READ MORE: WHSmith issues statement regarding Bolton store closure READ MORE: Demolition of Crompton Place, Bolton expected in summer Bolton also has a WH Smith in the railway station. WH Smith have been closing high street shops across the UK, recently shutting their store in Sale. However, WH Smith is still hoping to breathe new life into its high street stores, and they will be rolling out Toys R Us concessions nationwide.
Group chief executive Carl Cowling said: “The group has delivered an excellent performance throughout the year, particularly over the key summer trading period. “While there is some economic uncertainty, we are confident that 2025 will be another year of good progress for the group.”.
