WH Smith says it is raising new equity of about £100m (reported as roughly £106m) after warning again that profits will be lower than previously expected. The company issues the warning for the second time in two months, and its shares fall sharply in response. Multiple outlets report that the stock drops by around 17% to nearly 20% during trading on Wednesday, reaching the lowest levels seen in a long period.
The company attributes the weaker outlook to ongoing travel disruption affecting customer activity and to softer consumer spending, particularly impacting its airport-led business. As a result, WH Smith cuts its profit forecast again, despite earlier guidance adjustments. Retail Gazette and Daily Mail both describe the new profit warning and the scale of the equity raise, with investors contributing to the funding.
Overall, the reports portray a retailer facing near-term earnings pressure tied to travel conditions and consumer demand, while turning to fresh capital to support the business following renewed guidance uncertainty.
