WH Smith to raise £100m as it warns on profits due to Iran war

WH Smith issued a profit warning on June 10, 2026, citing a downturn in trading conditions primarily due to reduced shopper numbers at its airport stores, a consequence of the ongoing conflict in the Middle East. The retailer, which operates 1,200 outlets worldwide across airports, railway stations, and hospitals, announced plans to raise approximately £100 million. This capital infusion is intended to bolster its balance sheet, reduce debt, fund technological investments, and facilitate the closure of underperforming stores. The company indicated that the conflict has directly impacted passenger traffic, leading to a noticeable decline in sales at its travel retail locations. This strategic move to raise funds and close unprofitable sites reflects the company's adaptation to evolving market dynamics and the immediate challenges posed by geopolitical instability affecting travel patterns. The decision to shut down unprofitable stores is part of a broader strategy to streamline operations and enhance overall financial resilience in response to the current economic climate and the specific impact of the Middle East war.