# WH Smith investors sour on turnaround plans 

- URL: https://talkfuse.com/story/wh-smith-investors-sour-on-turnaround-plans/
- Published: 2026-11-13T11:23:32+00:00
- Updated: 2026-11-13T12:38:53+00:00
- Original publisher: City AM (publisher lean: Right)
- Original article: https://www.cityam.com/wh-smith-investors-sour-on-turnaround-plans/
- Topics: Business, Markets

## Key points

- WH Smith’s annual pre-tax profit fell to £76m, below its £115m target.
- Shares are down about 41% this year as Quinn pursues a turnaround.
- Store closures and restructuring are expected to weigh on sales and earnings.

## Summary

WH Smith shares fell for a second day after the retailer reported a sharp fall in annual profit, leaving investors unconvinced that chief executive Leo Quinn’s turnaround will quickly restore performance. Quinn says earlier “forced growth” left the business with a complex structure, costly operations and too many loss-making stores, and that changes are needed to improve profitability.

For the year to the end of August, WH Smith made £76m in pre-tax profit, more than a quarter less than the previous year and below its £115m target; statutory results showed a £107m loss after £164m of impairments, write-downs and restructuring costs. The recovery plan includes scaling back underperforming operations, closing stores and withholding bonuses, while North American sales face weaker airport footfall. Shares fell more than 8% in early trading to 364p and are down about 41% this year; analysts differ on the plan’s prospects, with some expecting near-term earnings pressure.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.