WH Smith’s stock fell well over 15 percent in Wednesday trading after the company warned of soft sales and profit expectations for the second time this year. “Given the ongoing uncertainty from the Middle East conflict and pressures on gross margins, including the recent deterioration in the North America division,” the company expects profit before tax and non-underlying items of £75 million – £90 million. That’s down from a previous forecast of £90 million to £105 million issued in April, when they suspended their dividend. Due to restructuring across various parts of the company, they expect to take “a significant […]
