WHSmith is hoping to build up its American empire as US passengers return to the skies.
The British retailer spent £467m on a pair of takeovers, InMotion and Marshal Retail, barely a year apart. They were designed to accelerate the group’s return to America’s “large and fast-growing” travel shopping sector. Yet three months after the second acquisition was completed in December 2019, the entire market all but shut down.
Today passenger numbers are back to pre-pandemic levels and WHSmith commands almost 10% of the news, gift and speciality market inside the top 70 US airports. It aims to boost this to 20% within four years, by which time it expects to be making more money here than it does on Britain’s high streets.
