Retailer Aims for 20% Market Share in US Airport Retail by 2025

  • WH Smith will not open any more UK high street stores
  • Focus on expanding presence in US and European markets
  • Retailer aims to secure 20% of the retail market in US airports within four years
  • Investment in retail partnership with Toys R Us in nine UK branches

WH Smith CEO Carl Cowling has announced that the company will not be opening any more high street stores in the UK, instead focusing on expanding its presence in airports and train stations, as well as entering new markets in the US and Europe. Over the past 20 years, WH Smith has grown its presence in airports, train stations, motorway services areas, and US-based casino resorts. Cowling stated that opening more high street branches would be a duplication, given the company already operates around 550 stores on UK streets. The CEO told BBC World Service Marketplace Morning Report that the retailer’s primary growth market is in the US, where it currently holds about 12% of the retail market in airports and plans to reach 20% within four years, targeting approximately 150 stores. WH Smith will invest £120m this year on opening stores in the US and Europe. However, Cowling confirmed that the company will continue to invest in its partnership with Toys R Us in nine UK branches.

Factuality Level: 10
Factuality Justification: The article provides accurate information about WH Smith’s business strategy and expansion plans without any sensationalism or personal opinions. It reports on the company’s decision to focus on non-high street locations and its growth in the US market, as well as mentioning specific numbers and investments.
Noise Level: 2
Noise Justification: The article provides relevant information about WH Smith’s business strategy and expansion plans without any irrelevant or misleading content. It includes specific numbers and details on the company’s growth ambitions and investment plans, making it informative and focused.
Financial Relevance: Yes
Financial Markets Impacted: WHSmith’s decision to focus on US and European markets may impact the retailer’s stock performance and competition within those regions.
Financial Rating Justification: The article discusses WHSmith’s strategic shift in expansion plans, which can affect its financial performance and market positioning. This has implications for the company’s financial health and competitiveness in different markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the article

Reported publicly: www.retailsector.co.uk