WH Smith to raise £100m as it warns on profits due to Iran war

Retailer plans to shut unprofitable stores as shopper numbers at airports fall amid Middle East conflict Business live – latest updates WH Smith has issued a profit warning after shopper numbers at its stores in US airports fell as a result of the war in the Middle East. The retailer, which operates 1,200 outlets globally in airports, railway stations and hospitals, also announced plans to raise about £100m to strengthen its balance sheet, pay down debt, invest in technology and shut down unprofitable stores after “a downturn in trading conditions”. Continue reading...