WHSmith has confirmed the termination of its lease at Nugent Retail Park in Orpington, leading to an early closure of the store next year. The company expressed disappointment over losing its presence in the area and thanked customers for their support. They assured assistance for staff during the transition, aiming for potential redeployment to nearby locations while emphasizing gratitude for their colleagues' commitment during these changes.
As WHSmith continues to streamline its UK high street operations, it currently operates 500 stores after closing 14 and anticipates a similar number of closures this financial year. The company has around 470 leases up for renewal over the next three years, actively negotiating on 100, and is committed to renewing leases that deliver economic value, indicating strategic adjustments amidst changing retail landscapes.
The company is shifting its focus toward growth in travel shops, particularly in North America, with plans for 60 new stores and ambitions to operate around 500 shops by 2028 at major US airports. This strategy underscores a significant pivot from the traditional high street model to capitalize on the increasing travel market, reflecting broader trends in retail and consumer behavior.
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