November 10th 2024.
WHSmith, a beloved British shop that has been a staple on high streets for decades, has recently made some big announcements. Sadly, they will be closing multiple shops before the year comes to an end, adding to the growing list of high street stores facing struggles. As of now, branches in Scotland, Kent, and Manchester have already closed, with more expected to follow suit.
In an effort to stay afloat in a changing retail landscape, WHSmith had previously announced plans to open 110 new branches this year. However, these new locations would not be traditional high street stores. Instead, they would be situated in places like airports, railway stations, and hospitals where profits tend to be higher. In another move to adapt to consumer trends, WHSmith will be bringing back a classic item to their shelves – vinyl records. After a thirty-year hiatus, the shop will once again offer this nostalgic music format in response to its recent surge in popularity among shoppers.
But that's not all – WHSmith will also be partnering with another iconic store, Toys R Us, by stocking their products in 76 of their locations by the end of the year. This is exciting news for many who remember the beloved toy shop that disappeared from the nation almost ten years ago. It's clear that WHSmith is making strategic decisions to revamp their stores and stay relevant in a competitive retail market.
As for the shops that have already closed this year, here's the full list with their closing dates: Alfreton, Derbyshire in January 2024; Ramsgate, Kent in January 2024; Oban, Argyll and Bute, Scotland in February 2024; Nantwich, South Cheshire in February 2024; Margate, Kent in April 2024; Sale, Manchester in September 2024; and Bournemouth in October 2024. These stores were spread out across Britain, showing the widespread impact of the changing retail landscape.
Looking to the future, WHSmith has announced that their Basingstoke branch will be closing in early 2025. The news was reported by the Basingstoke Gazette, which also mentioned that the store has been a fixture in The Malls shopping centre for over 50 years. Currently, the shop is holding sales in preparation for its closure on February 1st of next year. Customers can enjoy discounts of up to 30% on some items.
As WHSmith continues to adapt and make changes, they will also be opening new stores in travel hubs like train stations and airports. According to their company accounts, travel sales have grown by 15% compared to a 3% decline in high street revenue. Overall, the company's revenue has increased by 8% in the past 20 weeks. This reinforces WHSmith's decision to focus on travel locations, where they can make more profit compared to high street stores.
Last year, WHSmith pledged to open 15 new stores, with plans to add an additional 15 each year over the medium term. In an interview with the BBC, WHSmith's CEO Carl Cowling shared that the company has already invested over £100 million in opening new stores in airports. They also have ambitious goals to capture over 20% of the airport retail market in the US and Europe in the next four years. Kate Hardcastle, chief executive of retail insights agency Insight with Passion, believes that travel hubs present a "golden opportunity" for WHSmith, especially since they have faced challenges on the high street in recent years. She also points out that as technology becomes more prevalent, people are more likely to forget essentials while traveling, making travel locations a lucrative selling opportunity.
One exciting development on the horizon for WHSmith is the return of vinyl records to their shelves. Music lovers will soon be able to purchase records in over 80 WHSmith stores across the country. This comes after the shop stopped selling vinyls over thirty years ago due to a decline in demand. However, in recent years, sales have been steadily increasing as more people embrace the vintage way of listening to music or switch from CDs to digital platforms. In fact, sales for this classic music format have grown for the 16th year in a row, with over six million records sold last year.
Emma Smyth, commercial director of WHSmith, expressed her excitement about bringing back vinyl records, saying, "After thirty years, vinyl is back at WHSmith. I'm sure there are many customers out there who remember spending hours in record shops browsing the latest vinyl LPs and admiring the artistic record covers." She also added that it's no surprise that vinyl is gaining popularity again, and they are thrilled to offer this selection to both long-time fans and new listeners.
For those wondering where they can purchase vinyl records at WHSmith, here's the full list of locations: Berkhampstead, Bromley, Canterbury, Chester, Crawley, East Kilbride, Epsom, Exeter, Gloucester, Gyle, Henley, High Wycombe, Kingston, Lichfield, Marlborough, Monks Cross, Preston Deepdale, Romford, Salisbury, Watford, White City, York, Jersey, Perth, Stafford, Weston-super-Mare, Northallerton, Douglas, Scarborough, Buxton, Argyle Street, Beeston, Brecon, Brent Cross, Broughton Parc, Bury St Edmunds, Carlisle, Cirencester, Cribbs Causeway, Darlington, Bluewater Park, Deal, Dumfries, Elgin, Ely, Exmouth, Grantham, Great Yarmouth, Hamilton, Harpenden, Haslemere, Hastings, Havant, Haywards Heath, Hempstead Valley, Hereford, Honiton, Leighton Buzzard, Lewisham, Liverpool, Llanelli, Marlow, Monmouth, Morpeth, Newport, Petersfield, Sevenoaks, Meadowhall, Southport, Southsea, Swanage, Taunton, Teesside Retail Park, Temple Fortune, Twickenham, Uckfield, Wallington, Warrington, Wimbledon, and Witney.
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