Retailer plans to shut unprofitable stores as shopper numbers at airports fall amid Middle East conflict

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WH Smith has issued a profit warning after shopper numbers at its stores in US airports fell as a result of the war in the Middle East.

The retailer, which operates 1,200 outlets globally in airports, railway stations and hospitals, also announced plans to raise about £100m to strengthen its balance sheet, pay down debt, invest in technology and shut down unprofitable stores after “a downturn in trading conditions”.