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W H Smith 'to expand to Russia'
23.11.12 | Lisa Campbell
W H Smith looks set to expand into Russia after hiring property consultant Knight Frank to hunt for locations in the country, according to a report from the Reuters news agency.
The chain bookseller performs more strongly in its international arm than its high street business and as a result has been steadily growing units abroad, now looking to Russia next year.
W H Smith now has over 100 units in Dubai, France, India, Ireland, Oman and Sweden.
The company is thought to be looking to Russia after economic tensions in the Eurozone has meant business in that continent remains tough.
In its financial update earlier this month, W H Smith said: "Gross margin has increased in line with our plan and our store opening plan continues to make good progress both in the UK and internationally."
W H Smith were this morning unavailable to comment.