BusinessCompany NewsWH Smith executives snap up shares

WH Smith executives snap up shares

WH Smith chief executive Kate Swann has bought her first big stake in the troubled retailer a year after she took on her new role.

Link: Retail sector struggling under deluge of bad news

Swann bought 148,000 shares at 327p for about £480,000, while finance director John Warren bought 50,000 shares at 329p raising his total holding to just over 56,000, The Sunday Times reported.

In October, the company reported an annual pre-tax loss of £135m ($242m), as it was hit by exceptional charges of £200m linked to unsold stock and restructuring costs.

Sales at its 673 UK stores fell by 2%, with the company hit by falling book and music sales.

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