WH Smith reports flat like-for-likes after dip in high street sales
WH Smith has reported flat like-for-like sales in the 15 weeks to 10 June after sales in its high street stores declined. Total sales edged up 2%.
Like-for-like sales in WH Smith’s stores in travel locations, which include rail stations and airports, rose by 5% as the retailer continued to focus on customer service, execution, space and category management. In addition, sales were helped by an increase in passenger numbers.
Meanwhile, like-for-like sales in WH Smith’s high street shops fell by 4%.
WH Smith said its Post Office opening programme is on track and that it has now moved 58 of the 61 Post Offices that were due for relocation.
It also said its store opening programme in travel locations is progressing well both in the UK and overseas.
In a statement, WH Smith said: “Whilst there remains some uncertainty with regard to the broader economic environment, we continue to focus on profitable growth, cash generation and investing in the business to position us well for the future. We remain confident in the outcome for the full year.”
