UK’s WH Smith says it is exploring potential sale of high street arm

LONDON (Reuters) -British retailer WH Smith is exploring potential strategic options for its UK high street business, including a sale, it said on Saturday after media reports.

The company was holding “secret talks” about the sale of its entire high street arm, which has more than 500 stores, Sky News first reported on Saturday.

Responding to the reports, the group said: “WH Smith confirms that it is exploring potential strategic options for this profitable and cash generative part of the group, including a possible sale.”

The company said there was no certainty that any agreement would be reached, and that it would provide updates on the process “as and when appropriate”.

WH Smith’s high street arm is part of the retailer’s more profitable travel business, which has around 1,200 stores across 32 countries.

“Three-quarters of the group’s revenue and 85% of its trading profit comes from the travel business,” it said.