WH Smith boosted by success of travel business
WH Smith has reported a 6% uplift in total sales in the 20 weeks to 19 January although like-for-like sales were flat.
The book and stationery retailer said total sales at its travel business were up 16%, or by 8% when sales at its recently acquired InMotion business were excluded. On a like-for-like basis sales were up 3%.
Meanwhile, total sales at its high street stores edged down 1% with like-for-likes falling by 2%. The company said it is on track to make planned cost savings of £9 million at the business in its full year.
WH Smith said it is continuing to expand its international business. It now has over 420 units open, including 116 InMotion stores, across 28 countries and at over 90 airports outside of the UK.
Looking ahead Stephen Clarke, WH Smith chief executive, said:”Whilst there is existing uncertainty in the broader economic environment, the group is well positioned for the year ahead and beyond.”
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