Overview
- Britain’s regulator said it is probing potential breaches of UK Listing Principles and Disclosure and Transparency Rules linked to issues WH Smith disclosed on 19 November.
- The board is invoking malus and clawback to recover overpaid awards from former executives, with disclosures indicating roughly £7m across Carl Cowling and Robert Moorhead.
- FY2025 results show group revenue up about 5% to around £1.5bn, headline profit before tax at £108m, a rebased full‑year dividend of 17.3p, and FY2026 guidance of £100m–£115m.
- North America trading profit dropped to £15m from a restated £34m, reflecting reduced supplier income and inventory write‑downs, with management aiming for a 7%–8% margin next year.
- WH Smith will exit unprofitable North American fashion and speciality stores and is reviewing its InMotion portfolio, as interim CEO Andrew Harrison oversees a leadership transition and control remediation.