WH Smith buys US rival

WH Smith has continued its march into the US by snapping up North American retailer Marshall Retail for £312m.

Bosses said they had first started watching the business around four years ago when they made an active decision to pursue the £2.5bn US travel market. It means the retailer now has a further 170 stores in North America, including 59 in airports, with the remaining in busy tourist hotspots including Las Vegas.

The news came as the retailer revealed that sales jumped 11pc across the business to £1.4bn.

The travel division grew 22pc to £817m.