WH Smith reports big drop in airport shop sales
March 12, 2020
Sales at WH Smith’s airport shops in the UK have fallen 35 percent as the coronavirus outbreak curtails travel. The company also said that it expects its shops in the U.S. and around the globe to come in about 20 percent lower than expectations. “A rapid decline in footfall at travel sites because of coronavirus is hitting revenues and will result in a material decline in profits this year,” said Neil Wilson, chief market analyst for Markets.com. “Trump’s 30-day European travel ban makes things worse and threatens to make today’s estimates only partially reflective of the level of damage that could be done this year.”
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