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A cloud of uncertainty hangs over the future of one of the county’s best-known and longest-standing retailers.
WH Smith has confirmed it is in talks to sell its high street arm - which has a number of stores across Kent’s town centres - as it looks to turn its focus on its more profitable outlets at airports, train stations and hospitals.
The company, which has been trading for 230 years, says just 15% of its annual group trading profit comes from its high street branches.
A statement from the firm said: “WH Smith confirms that it is exploring potential strategic options for this profitable and cash generative part of the group, including a possible sale.
“Over the past decade, WH Smith has become a focused global travel retailer. The group’s travel business has over 1,200 stores across 32 countries, and three-quarters of the group’s revenue and 85% of its trading profit comes from the travel business.
“There can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate.
The group reported underlying pre-tax profits of £166 million for the year to August 31 – up from £143 million the previous year.
But earnings remained flat at £32 million in its traditional high street business despite a 2% drop in like-for-like sales thanks to cost-saving efforts.