WHSmith’s chief executive has revealed it will not open any further UK High Street outlets.

Carl Cowling told the BBC that the stationer will instead be turning its focus to its UK travel stores while also bolstering its store portfolio in the US and Europe.

The decision to pivot away from the High Street follows WHSmith’s recent financials in which 75 per cent of its bottom line revenue was attributable to its travel stores found in the likes of airports and coach station depots.

Travel stores accounted for £593 million of the retailer’s profits in the six months to February 2023 while High Street revenues stood at around £266 million.

WHSmith has around 550 UK High Street stores and Cowling told the BBC that opening more would “just be a duplication", noting that WHSmith already has a presence in the main cities throughout England, Wales, and Scotland.

Company accounts for February also showed 12 per cent growth in the US market, with 29 outlets having opened throughout the period.

"Our ambition is to get to 20 per cent over the course of the next four years and then that will mean probably only the best parts of 150 stores," Cowling said of the company’s future US market aims.

The chief executive added that WHSmith plans to spend about £120 million this year on opening shops in the US and Europe.

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