Mixed results at WHSmith
WHSmith has posted a six per cent increase in total sales for the 20 weeks to January 19. It experienced a two per cent drop in its high street like-for-like sales during period, but this was offset by a three per cent rise in sales from its travel locations division. The retailer reported growth in travel sales with a 16 per cent rise, 8 per cent was from InMotion, a US travel chain it acquired in Autumn 2018.
WHSmith’s high street division saw sales fall by one per cent in total and two per cent on a like-for-like basis,. Gross margins had increased, with Christmas cards, wrap, diaries and fashion stationery proving to be strong performers.
“Looking ahead, whilst there is existing uncertainty in the broader economic environment, the group is well positioned for the year ahead and beyond,” WHSmith chief executive Stephen Clarke said. “The group has delivered a strong trading performance with total sales up six per cent and like-for-like sales flat.