On 19 November 2025, WH Smith announced that its chief executive, Carl Cowling, would be stepping down after an independent review revealed serious accounting errors in its North American business. The probe, led by Deloitte, found that WH Smith incorrectly booked more supplier income than it should have. This mistake inflated the company’s earnings by…
WH Smith faces a tough time in the stock market. Shares fell 42% after news of a £30 million accounting error broke. This drop cut the company’s market value by £600 million. We see this error came from the North American arm. They logged income too early, like supplier rebates and marketing payments. Profits for…
WH Smith, the historic British retailer, shocked the market today by renegotiating the sale of its high street business with Modella Capital, reducing the expected proceeds from £52 million to £40 million. This prompted a sharp 5% drop in shares. Let’s see why this matters and what it means for the future. What Just Happened?…