[ PW Home ] [ Bestsellers ] [ Subscribe ] [ Search ]

Publishers Weekly News

WH Smith Buys U.S. Airport Bookstores
Jean Richardson -- 4/24/00
In support of its mission to raise its visibility in the U.S., the British bookstore chain WH Smith has bought the Benjamin Company for £12 million ($19 million). Owned by Robert Creuz, the stores sell books, newspapers and gifts at 17 major airports, including Dallas-Fort Worth, San Francisco, New York's LaGuardia, Boston and Seattle. In the year ending December 31, 1999, Benjamin had an operating profit of $3.6 million on sales of $26.2 million. Announcing the deal, WHS chief executive Richard Handover said, "It gives us a major presence in eight of the top 10 U.S. airports."
The company reports a 60% increase in online sales in the U.K. There are plans to introduce WH Smith's new online format, currently being tested in the U.K. Customers can log on using computers in the store, send and receive e-mails, order books to be picked up at their destination and make hotel reservations.

WHS already owns 500 outlets in the U.S., and last month paid approximately $19 million for Hazelwood Enterprises, which runs bookstores in 70 hotels in the American Southwest.

Back To News
--->

Search | Bestsellers | News | Features | Children's Books | Bookselling
Interview | Industry Update | International | Classifieds | Authors On the Highway
About PW | Subscribe
Copyright 2000. Publishers Weekly. All rights reserved.