{
  "id": 19442520,
  "title": "WH Smith faces turnaround test to deter shortsellers",
  "url": "https://urgent.news/2026/11/11/wh-smith-faces-turnaround-test-to-deter-shortsellers",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-11T04:05:00.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/wh-smith-faces-turnaround-test-to-deter-short-sellers/"
  },
  "original_language": "en",
  "account": "Leo Quinn, WH Smith's new CEO, prepares to address shareholders amid ongoing challenges for the travel retailer. In March of the previous year, then CEO Carl Cowling hailed the sale of the company's 480 high street stores to private equity firm Modella Capital as a \"pivotal moment\", promising substantial growth and value for all stakeholders. However, the deal has proven far more complicated than anticipated. WH Smith's shares have suffered a 35% decline in value over the past year, and the company is the 10th most-shorted listed firm in London. The retailer has issued two profit warnings in recent months and is now forecasting a pre-tax return of approximately £75m, a 40% year-on-year decline. The decline in airline passengers due to the Iran war has led to increased prices passed on to travelers, resulting in lower sales for WH Smith's travel shops. Despite hopes that the high street exit would simplify the business and capitalize on the growth of quick food and convenient accessories at train stations and airports, the travel outposts have struggled as well. The accounting scandal at WH Smith's North American division, which led to a £600m reduction in the company's valuation, further contributed to the decline. CEO Leo Quinn, who has successfully turned around other companies, will need to prove to investors that WH Smith can overcome these challenges and deliver on Cowling's promised growth.",
  "summary": "New WH Smith boss Leo Quinn is preparing to face shareholders. Felix Armstrong unpicks the many troubles facing the travel retailer Announcing the sale of its high street business in March last year, Carl Cowling, then WH Smith’s chief executive, hailed a “pivotal moment” for the retailer, promising “substantial growth and value for all stakeholders”. [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}