WHSmith has been slashing costs in the high street stores to improve profitability as it grapples with the shift to online shopping, which has affected the number of customers visiting stores. The high street arm’s underlying annual profits after the Covid-19 pandemic fell from about £60mn to £32mn in the year to August 2024.

The group said total high street sales dropped 6% in the 21 weeks to January 25, down 3% on a like-for-like basis, while travel shops saw 6% growth.

The news comes just days after the company confirmed discussions about potentially selling off its high street stores to concentrate on its larger travel operation.