WH Smith Unveils Remediation Plan Following Deloitte Review

WH Smith ( (GB:SMWH) ) just unveiled an update.

WH Smith PLC has announced findings from an independent Deloitte review, revealing inconsistencies in the accounting treatment of supplier income in its North America division. This has led to an expected reduction in headline trading profit for the region and necessitated prior year adjustments. The company is implementing a comprehensive remediation plan, including leadership changes and enhanced governance frameworks, to address these issues and improve financial controls. The resignation of Group CEO Carl Cowling has also been announced, as the company seeks to rebuild trust and improve profitability in North America.

The most recent analyst rating on (GB:SMWH) stock is a Hold with a £6.75 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.

Spark’s Take on GB:SMWH Stock

According to Spark, TipRanks’ AI Analyst, GB:SMWH is a Neutral.

WH Smith’s overall stock score is primarily influenced by its strong financial performance, which is offset by bearish technical indicators and a high valuation. The company’s high leverage and potential overvaluation are significant risks, while the lack of recent earnings call data and corporate events limits additional insights.

To see Spark’s full report on GB:SMWH stock, click here.

More about WH Smith

WH Smith PLC operates in the retail industry, primarily focusing on books, stationery, and travel essentials. The company has a significant presence in travel locations such as airports and train stations, with a market focus on both the UK and international markets, particularly North America.

Average Trading Volume: 935,365

Technical Sentiment Signal: Sell

Current Market Cap: £771M

For a thorough assessment of SMWH stock, go to TipRanks’ Stock Analysis page.