WH Smith (SMWH) News Today

WH Smith PLC (LON:SMWH) saw its shares decrease today following a wave of analyst downgrades and a major accounting error in its North American operations that led to a halving of profit guidance and the wiping out of hundreds of millions in market value. Key developments include:

• Neutral Sentiment: Investors Chronicle review of expectations before the sell-off. WHSmith: What we knew before the sell-off
• Negative Sentiment: Deutsche Bank cut its price target on SMWH from GBX 1,030 to GBX 726 and maintained a “hold” rating. Digital Look and London Stock Exchange
• Negative Sentiment: Peel Hunt downgraded SMWH to “hold” and slashed its price target to GBX 755 from GBX 1,400. Digital Look and London Stock Exchange
• Negative Sentiment: WH Smith halved its North America profit guidance after identifying a £30 million overstatement. WH Smith halves North America profit guidance after accounting error, shares plunge
• Negative Sentiment: Shares tumbled after the retailer admitted an accounting blunder in its U.S. unit. WH Smith shares tumble after retailer admits accounting blunder
• Negative Sentiment: SMWH shares fell after lowering its profit outlook on the U.S. accounting error. WH Smith shares tumble after lowering profit outlook on US accounting error
• Negative Sentiment: A 41% share drop was triggered by 129 words in the profit statement pointing to the error. How 129 words just wiped 40% off this FTSE 250 stock!
• Negative Sentiment: Almost £500 million was wiped off WH Smith’s market value after the disclosure. Almost £500m wiped off WH Smith after accounting error
• Negative Sentiment: Shares crashed 31% on news of a £30 million overstatement in its U.S. business. WH Smith shares crash 31% after £30 mln overstatement in U.S. business
• Negative Sentiment: Shock profit warning sent shares plunging, according to Investors Chronicle. WH Smith shares plunge after shock profit warning
• Negative Sentiment: A U.K. retailer had its “worst day ever” as PwC auditors flagged the overstatement. A U.K. retailer is having its worst day ever as PwC-audited company said it overstated profits.
• Negative Sentiment: UK’s WH Smith cut its profit forecast after the accounting blunder, driving shares lower. UK's WH Smith cuts profit forecast after accounting blunder, shares sink
• Negative Sentiment: WH Smith slashed its North America profit outlook after the £30 million overstatement was revealed. WH Smith slashes profit forecast after £30 mln overstatement in North America
• Negative Sentiment: Accounting error in the North America unit prompted another profit forecast cut. WH Smith cuts profit forecast after accounting error in North America unit
• Negative Sentiment: WH Smith revised its North America profit expectations amid a financial review. WH Smith Revises North America Profit Expectations Amid Financial Review