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How a Timing Mistake Put WH Smith on Watchdog Radar
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Subscribe26 NOV 2025 / ACCOUNTING & TAXES
WH Smith's accounting error in prematurely booking North American division income caused a £600 million loss in market value, leading to a financial investigation. The British retailer, working on its image revamp, is now addressing the issue to regain investor confidence after shares dropped by 45% this year, followed by a leadership change.
WH Smith’s week went sideways faster than a luggage carousel jam at Newark. One moment the retailer was counting on a big North American push to prove it could thrive beyond books and airport snacks, and the next it was staring at an accounting mess...
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