By Nina Kienle
WH Smith said it lowered its fiscal-year guidance for its North America division after the identification of an overstatement of around 30 million pounds ($40.4 million).
The British retailer on Thursday said that it now expects headline trading profit--one of the company's preferred metrics--for the division for the fiscal year ending Aug. 31 to be around 25 million pounds, down from previous market expectations of around 55 million pounds.
The identified overstatement is largely due to the accelerated recognition of supplier income in the North America division, it said.
As a result, the group expects full-year profit before tax and non-underlying items to be in the region of 110 million pounds, it added.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
August 21, 2025 02:26 ET (06:26 GMT)
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