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WH Smith to cut up to 1,500 jobs; warns of annual loss

By BFN News | 12:57 PM | Wednesday 05 August, 2020


Book and convenience retailer WH Smith said it could make up to around 1,500 roles redundant amid a slump in footfall at its airport and high street stores that sent it barreling to a full-year loss. Pre-tax losses for the year through August were anticipated at between £70m and £75m, with costs associated with the job cuts in the region of £15m-to-£19m. Revenue in the month of July was down 57% on-year, following drops of 69%, 82% and 83% in June, May and April, respectively. 'As a result of the impact on passenger numbers and lower footfall on the UK high street, we have taken the difficult decision to review our store operations across both our travel and high street businesses,' WH Smith said. At 12:57pm: (LON:SMWH) Wh Smith PLC share price was +10.75p at 996.25p Story provided by StockMarketWire.com

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