WHSmith have announced that year-on-year revenue for April is expected to drop by 90 per cent as a result of the Covid’19 crisis. The retailer announced that a significant decline in air and rail passenger numbers due to the Covid'19 pandemic has badly affected revenue.

Many stores are closed temporarily but those in hospitals and many high street stores remain open for postal and banking services. Steps taken to reduce capital expenditure and operating costs have resulted in a significant number of employees being furloughed.

The company have been able to raise money through issuing shares, securing new banking facilities plus over £285m in funding.  They have also put in place several measures to reduce costs including a freeze on new capital expenditure together with renegotiating rents, furloughing staff and suspension of dividend payments for 2020 to support the business at this turbulent time.