This quote from the WH Smith interim (six month) report released a couple of days ago speaks to the importance of reconfiguring retail space:
Optimal use of space is a fundamental part of the strategy for High Street, as we look to maximise profitability today in ways that are sustainable for future years. We work our space to maximise return on every metre drop in every store through improving margins, reducing costs and driving third party income opportunities. Each individual store has a specific space reconfiguration twice a year driven by many years worth of detailed space and product elasticity data.
The highlight in the quote is mine. I urge newsagents to take note of this.
Remember, in the UK, where the company has most high street stores, it competes with businesses like newsagencies. This quote and others in the statement speak to how a competitor operates. It’s very relevant for Australian newsagents.