UK $1.2 Billion Travel Retailer WH Smith Overstated Net Income by $40 Million (£30 Million) Due to Early Recognition of Supplier Income in North America & Instructed Deloitte to Conduct Independent Review, Founded in 1792 by Henry Walton Smith & Anna (Wife), Current Market Value at $1.2 Billion, Share Price -39.9% YTD, -43.7% Last 12 Months & -28.3% Last 5 Years
23rd August | Hong Kong
UK travel retailer WH Smith ($1.2 billion market value) has overstated net income by $40 million (£30 million) due to early recognition of supplier income in North America, and has instructed Deloitte to conduct an independent review. WH Smith was founded in 1792 by Henry Walton Smith & Anna (Wife). WH Smith current market value at $1.2 billion, with share price -39.9% YTD, -43.7% last 12 months & -28.3% last 5 years. WH Smith – WHSmith is a leading, global travel retailer. Since 1792, we’ve grown and evolved into a globally recognised brand, and we’re proud to be that air of familiarity people love and trust on their journey, both in life and through life. Today, we have more than 1200 stores in over 30 countries across the globe, serving millions of customers every year, and you’ll find us at airports, railway stations and hospitals. Each of our stores and formats is tailored to meet the needs of our customers journeys; we’re the trusted home of travel essentials for the world’s travelling customer. We already operate in over 100 airports around the globe and we’re continuing to expand with a growing presence of WHSmith at international airports, and the expansion of our US businesses – Marshall Retail Group for speciality retail and InMotion, our world-leading digital and tech accessories business in travel locations – into new markets. At the heart of our business are our people and our customers. As a diverse group of over 9,000 colleagues, we are all on the same journey to a better business. Whether our colleagues are based in our stores, our distribution centres or our support centres, we’re committed to providing the opportunity for each and every member of the WHSmith team to be themselves, build their skillset, and progress on their journey with us. That’s why, as we continue our journey, our aim is simple: to make every one of life’s journeys better.
“ UK $1.2 Billion Travel Retailer WH Smith Overstated Net Income by $40 Million (£30 Million) Due to Early Recognition of Supplier Income in North America & Instructed Deloitte to Conduct Independent Review, Founded in 1792 by Henry Walton Smith & Anna (Wife), Current Market Value at $1.2 Billion, Share Price -39.9% YTD, -43.7% Last 12 Months & -28.3% Last 5 Years “
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UK $1.2 Billion Travel Retailer WH Smith Overstated Net Income by $40 Million (£30 Million) Due to Early Recognition of Supplier Income in North America & Instructed Deloitte to Conduct Independent Review, Founded in 1792 by Henry Walton Smith & Anna (Wife), Current Market Value at $1.2 Billion, Share Price -39.9% YTD, -43.7% Last 12 Months & -28.3% Last 5 Years
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