Britain's WH Smith looks to squeeze suppliers to offset forex hit
Britain's WH Smith Plc said it will lose its protection against a weaker pound next year and is looking to offset the impact by consolidating factories and negotiating better prices with suppliers to cut its costs.
The high street retailer is looking to curb an expected increase in costs associated with buying $30 million of stationery, after a hedge against the dollar expires next year, WH Smith Chief Executive Stephen Clarke said on Thursday.
"Since June 24, we have been talking to our suppliers and factories, looking at how we can reduce cost that might come through by consolidation... read more
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