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Retail & Consumer

WH Smith high street sale on track as stores will rebrand as TGJones

WH Smith group itself will focus on its travel stores

The WH Smith brand will soon disappear from high streets(Image: PA Wire/PA Images)

WH Smith has reaffirmed its plans to sell its high street division to Hobbycraft's owner, Modella, by the end of the month.

In March, the FTSE 250 firm announced it had agreed to divest the arm in a deal valuing it at £76m.

Upon completion, replaced by TGJones.

All approximately 480 stores and 5,000 staff members of the Swindon-based high street businesses will transition to Modella Capital's ownership as part of the agreement.

In an update to the London Stock Exchange, WH Smith also confirmed that its total revenue rose five per cent in the 13 weeks to 31 May, with like-for-like sales also increasing by five per cent, as reported by .

Revenue in the 海角视频 grew five per cent, while revenue in North America increased three per cent and revenue in all other regions jumped by nine per cent.

WH Smith stated that its expectations for the full year remained unchanged, although it was "mindful of the broader economic and geopolitical uncertainty".

"[WH Smith] is well positioned as we enter our peak summer trading period," it said.