Swann to review WHSmith after profit warning

Recently appointed WHSmith chief executive Kate Swann is undertaking a complete review of the UK retail business in the light of last week's profit warning.

The review will begin with the London and Swindon head offices, where 1,200 people are employed, and job losses are likely to follow.

WHSmith's poor Christmas performance has once more brought into question the promotion of former group chief executive Richard Handover to chairman.

Like-for-like sales at the high street business were flat in the 17 weeks to December 27, and margins fell by 2 per cent. UK retail managing director Beverley Hodson has left the business.