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Daily Mirror
Daily Mirror
Business
Emma Munbodh

WH Smith to close 25 stores with 200 more jobs at risk as coronavirus hammers sales

WH Smith has announced plans to permanently close 25 stores across the UK.

The stationary chain said it's in talks to close a number of smaller outlets - in a move that will place around 200 jobs at risk.

It comes after the company reported a £280million loss triggered by the pandemic.

The fall in annual profits compared with a £135million profit last year.

The coronavirus crisis has hammered WH Smith, which saw sales tumble by a third to £1billion in the year to August 31.

It said health and beauty products performed well in stores, with an uplift in electrical accessories as a result of increased working-from-home.

WH Smith to slash up to 1,500 jobs amid ‘slow’ Covid-19 recovery

However, a surge in online sales – which more than tripled in the second half – was not enough to offset the hit from lockdown closures, with its travel arm suffering particularly badly.

Figures show sales fell by £1million in travel outlets as the number of passengers passing through airports and train stations reached a standstill.

Around 240 of its 400 travel shops are still trading as 'essential' retailers.

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Chief executive Carl Cowling said: "Since March, we have been heavily impacted by the pandemic.

"We are expecting a significant decline in passenger numbers as a result of travel bans with the majority of our stores at airports and railway stations temporarily closed."

The company, which had more than 14,000 staff in 2019, culled 1,500 jobs in August, mostly in the travel division.

"I regret that this will have an impact on a significant number of colleagues whose roles will be affected by these necessary actions, and we will do everything we can to support them at this challenging time," Cowling said at the time.

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