Search

Concerns that WH Smith could lose millions because of coronavirus

PUBLISHED: 13:24 13 March 2020 | UPDATED: 13:59 13 March 2020

WHSmith in Felixstowe Picture: RICHARD CORNWELL

WHSmith in Felixstowe Picture: RICHARD CORNWELL

Archant

High Street retailer WH Smith says it believes it could lose millions because of coronavirus.

The retailer, who runs stores up and down the region believes it could lose up to £130 million from its revenues for the current financial year.

You may also want to watch:

Reducing passenger numbers at airport stores had been a particular blow for the company while it said it remained concerned about reduced high street footfall that could result from the virus.

The company said: 'WH Smith is a resilient business with a strong balance sheet, substantial cash liquidity and strong cashflow.

'The group has a strong management team in place and has consistently demonstrated that it can adapt and respond quickly to changing market conditions.

'Over the longer term, the board remains confident in the strategy and believes the group is well positioned to benefit from the normalisation and growth of the global travel market.'

Become a supporter

This newspaper has been a central part of community life for many years, through good times and bad. Coronavirus is one of the greatest challenges our community has ever faced, but if we all play our part we will defeat it. We're here to serve as your advocate and trusted source of local information.

In these testing times, your support is more important than ever. Thank you.

Most Read

Most Read

Latest from the East Anglian Daily Times