1056 GMT - WH Smith's lower-than-expected price for its high street business reflects the fact that the brand wasn't included in the sale, AJ Bell investment director Russ Mould writes. WH Smith sold the business for 52 million pounds--implying an enterprise value of 76 million pounds--compared with speculation the company would get 100 million pounds. The brand strength was a major asset to anyone looking to keep the stores running as per normal, Mould says. He adds that the new owner will have to do something remarkable to bring in shoppers under the unfamiliar TGJones name. Shares are down 3.4% at 10.53 pounds. (ian.walker@wsj.com.)
(END) Dow Jones Newswires
March 28, 2025 06:56 ET (10:56 GMT)
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