NEWS

WH Smith travel sales up while high street sales fall

Published on: 8th June 2016

Travel business total sales have risen 9%.

whsmith480The company said like-for-like sales in the 14 weeks to 4th June 2016 were flat, with total group sales up 2%.

High Street operations reported sales in line with expectations, as total sales were down 4% and like-for-like sales down 3%.

The retailer stated that its rising performance in the travel market reflects its ongoing investment into the business and the improvement in passenger numbers.

A spokesperson commented: “We made further progress actively managing our space to best meet the changing needs of our customers and landlords. Gross margin increased in line with the plan. Our new store opening programme is progressing well in both the UK and internationally, where we continue to win additional new units. We generate high levels of cash from our operations. As of 7th June 2016, we have purchased 1.7 million shares and returned to shareholders £29m of the up to £50m share buyback announced in October 2015.”

The company added that it was confident in the outcome for the full year.

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