WH Smith first to warn of profit shortfall

UK stationery chain WH smith has warned that weak sales of CD's and books will mean lower full year profits than previously estimated.

WH Smith is the first High Street retailer in the UK to warn of a profits shortfall after disappointing festive sales.Analysts had expected full-year profits of between £90m(€127m) and £100m(141m), but have now lowered forecasts by 20%.