WH Smith bets Vegas casinos will help it to crack America
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WH Smith boss dreams of big wins in the casinos of Las Vegas as he looks to crack America
The boss of WH Smith believes there is still ‘quite a lot of opportunity’ in the casinos of Las Vegas as it looks to crack America.
The retailer’s profit more than trebled in the six months to February 28, with sales at airports booming as passenger numbers are recovering after lockdowns.
Once a traditional stationery firm, it has pivoted to being a one-stop shop for travellers, whether they need to buy a phone charger, book or sandwich.
Travel division profit surged to £47million, up from £10million for the same period a year prior, while profit from high street shops dipped from £26million to £24million.
WH Smith saw profit more than treble in the six months to February 28 as sales at airports boomed thanks to passenger numbers recovering after lockdowns
WH Smith is confident of its prospects on the other side of the Atlantic, with North American profits up by 75 per cent.
It has around 100 shops in casinos after buying US travel firm Marshall Retail for around £325million in 2019.
But unlike the distinct blue and white branding of stores in the UK, casino and hotel stores are ‘bespoke’ to their particular locations, blending in with their surroundings.
And there could be more. Chief executive Carl Cowling said ‘there’s still quite a lot of opportunity in Las Vegas’ after it opened a two-floor souvenir store over the famous strip.
The shops are fashion-focused, with sequined dresses and jackets among the best-selling products.
‘Women who are there for the weekend want a new outfit, something a bit bling,’ the chief executive said.
