Major chain with 1,400 branches to OPEN 15 new shops – but not on the high street
A MAJOR retailer has revealed that it will open 15 new stores across the UK - but they won't be on the high street.
WHSmith is instead focusing on the travel side of its business where sales are growing.
It plans to open new sites in airports and railway stations, as well as hospitals.
It comes as the high street stalwart announced revenue across the business increased by 8% over the 20 weeks leading up to January 20 compared to the same period in the previous year.
UK travel sales grew by 15% over the same period. That's compared to a 3% fall in revenue for its high street division.
In an update today to investors, the retailer said it's on track to open 15 stores this year, with a furthers 15 to follow "each year over the medium term".
Read more on store opening
It forms part of wider plans to open 110 new shops worldwide.
Group chief executive Carl Cowling said: “The group is trading well and is in its strongest ever position as a global travel retailer.
“We are confident of another year of significant growth in 2024.”
“We continue to make excellent progress in North America, and I am particularly excited by the substantial growth opportunities that exist in this market.”
Most read in Money
“We are on track to open over 50 new stores in North America this financial year.
“In total, we are on track to open over 110 stores this financial year.”
WHSmith told The Sun it does not yet have a list of locations for the new openings.
In June last year, WHSmith confirmed it would NOT be opening any more high street branches.
WHSmith currently has around 1,400 stores in the UK the retailer has and 550 of these are located on the high street.
The retailer has previously said that opening more high-street stores "would just be a duplication" as the business wants to focus on growth.
A spokesperson for WHSmith told The Sun that the retailer has no plans to close any of the current high street stores.
However, we did see a WHSmith closure earlier this month in Alfreton, Derbyshire.
Just before the end of the last year in December the retailer also closed a store in Manchester.
Several other retailers have been struggling to get by over the past few years.
Energy costs have risen and more shoppers than ever are choosing to order online rather than head into stores.
This has left some retailers grappling with budgets and having no choice but to close stores to cut costs.
Homebase closed a store last year leaving it with just 93 stores remaining since it was taken over by Hilco Capital in 2018.
Poundstretcher closed multiple stores last year but also opened new stores in closed Wilko stores.
Even charity shops are struggling Oxfam confirmed it would close eight of its UK stores last year.
Clintons, Boots, HMV and Halfords are among the chains shutting stores before January 28.
However, it's not all doom and gloom several retailers have announced plans to open stores in the next few months.
B&M is opening 17 new locations this month and in February including in former Wilko stores.
Asda plans to open 21 new locations before the end of the month.
READ MORE SUN STORIES
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
You can also join our new Sun Money to share stories and tips and engage with the consumer team and other group members.