Travel stores drive WHSmith profit

Latest trading update shows sales up two per cent overall with travel driving growth

Written by

Posted 16.06.2017 | Retail

Latest trading update shows sales up two per cent overall with travel driving growth

Travel store sales are driving profits at WHSmith with its latest trading update revealing an eight per cent increase on that side of the business.

Like-for-like sales were up by five per cent, and the company remain confident despite current economic uncertainty around Brexit and the General Election.

The figures released yesterday, 14 June, show total group sales were up by two per cent over the 15-week period from March 1 to June 10, while on the high street side both total sales and like-for-like sales each fell by four per cent.

The company statement said: “In our High Street business we continue with our profit-focused strategy, with sales in the period in line with expectations. Gross margin improvement and cost savings have been delivered in line with plan.

“Our post office opening programme is on track and we have now relocated 58 of the 61 that we announced in April 2016. This brings the total number of post offices now open within our High Street stores to 165.

“The Travel business sales performance reflects our ongoing focus on customer service, execution, space and category management as well as the continued increase in passenger numbers. Gross margin increased in line with plan.

“Our new store opening programme is progressing well both in the UK and internationally. We are on target to open 15 units in the UK this year and have won further units internationally including six units in Rome which will open in July.

“While 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.”

Spin Master named League of Legends master toy thumbnail

Spin Master named League of Legends master toy

Licensing agreement with video game giant Riot Games will bring action figures, role-play and more to shelves next AW

John Lewis scraps partner bonus thumbnail

John Lewis scraps partner bonus

Partners will lose out on their annual profit share for the first time since 1953 after the group posts £635m ...

John Lewis scraps partner bonus thumbnail

John Lewis scraps partner bonus

Press Releases

Radio silence broken on Novel Entertainment’s new Horrid Henry podcast thumbnail

Radio silence broken on Novel Entertainment’s new Horrid Henry podcast

The first podcast based on the award-winning Horrid Henry TV series will launch this week under new ‘Horrid Henry Unlocked’ ...

APC Kids signs trio of deals for CTC Media’s Kid-E-Cats thumbnail

APC Kids signs trio of deals for CTC Media’s Kid-E-Cats

New deals sees hit property’s footprint expand in Asia, Latin America and North America

Live the track with the Lego Technic Ducati Panigale V4 R thumbnail

Live the track with the Lego Technic Ducati Panigale V4 R

The Lego Group has revealed its latest Lego Technic model – the Ducati Panigale V4 R

Have a field day with Britains’ New Holland Tractor! thumbnail

Have a field day with Britains’ New Holland Tractor!

Tomy has revealed the latest launch from Britains – a New Holland T8.435 Tractor