Europe's stock markets show mixed results with modest gains and losses across various indices. In a notable development, WH Smith reports a 3% decline in UK high street sales but a 7% increase in its travel division revenue. The retailer is seeking a buyer for its high street stores, affecting 5,000 employees. The decision signals a shift towards focusing more on the travel segment which delivers the majority of their revenue, aiming for better performance amidst changing retail dynamics.
WH Smith's decision to sell its 500 UK high street stores reflects a strategic shift, aiming to focus on its more profitable travel division, raising concerns for 5,000 staff.
Despite a 3% decline in like-for-like sales in its UK high street division, WH Smith's travel business enjoyed a 7% revenue increase, illustrating a significant shift in retail dynamics.
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