US EditionWH Smith Alerts over Profits on Iran War Disruption to Air Travel
The retailer said full-year profits now are expected to fall to £90 million to £105 million after lower passenger numbers and weaker consumer confidence.
- On Thursday, Smith shares slumped more than 10% as the retailer cut its full-year profit outlook to between £90 million and £105 million, citing uncertainty from conflict in the Middle East.
- Leo Quinn, formerly of Balfour Beatty, became executive chairman to restore confidence after a Deloitte review found 'shortcomings' regarding a £50 million profit overstatement in the American business, prompting Carl Cowling's departure.
- Underlying pre-tax profits tumbled to £3 million in the first half, while the group slumped to a £25 million interim pre-tax loss compared to a £1 million profit last year.
- Like-for-Like revenues flatlined in the first seven weeks of the second half as lower passenger numbers amid The Iran war disruption hampered operations, though group-wide revenues edged 2% higher.
- The group assumes no immediate improvement in consumer confidence, with future performance depending heavily on the peak summer trading period as management focuses on restoring long-term value creation.
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The Herald Scotland
WH Smith alerts over profits on Iran war disruption to air travel
The retailer said full-year profits were now expected to fall to between £90 million and £105 million.
WH Smith shares tumble as Iran war hits travel outlook
WH Smith shares tumbled on Thursday after it warned that the conflict in the Middle East was weighing on passenger numbers and consumer confidence. The travel retailer’s share price fell more than 15 per cent in early trading to 532p, leaving the stock down more than 16 per cent since the start of the year. WH Smith posted a pre-tax loss of £25m for the six months to February, widening sharply from a £4m loss a year earlier. Revenue edged up 2 p…
WH Smith faces a troubling H2 as the Iran war disrupts travel demand, says GlobalData
Discover what's happening in retail today, Retail Times publishes international & UK retail news covering products, data, tech, packaging, people, research, comment and much more. Following today’s release of WH Smith’s results for the 26 weeks ending 28 February 2026; Charlotte Chilcott, Retail Analyst at GlobalData, a leading intelligence and productivity platform, offers her view: “WH Smith’s task of rebuilding profitability will prove challe…
WH Smith Warns On Profits Amid Concerns About Travel Disruption
WH Smith has issued a profit warning and halted shareholder payouts due to concerns that growing travel disruption caused by the Middle East conflict will impact trading in its airport stores. The company, which sold off its high street business (more…) The post WH Smith Warns On Profits Amid Concerns About Travel Disruption appeared first on KamCity.
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