WH Smith benefits from surge in sales at travel division
WH Smith has said it made a good start to its financial year following a strong performance in its travel division.
In the 20 weeks to 20 January, group revenue increased by 8% compared to the prior year.
Its travel division was its best-performing business with sales up 13% year-on-year, or 16% on a constant currency basis. Sales in the UK rose by 15% while sales in north America and the rest of the world climbed by 14% and 24% respectively at constant currency.
The retailer said it is continuing to see improving passenger numbers across UK air and a strong performance in its stores in hospitals and rail stations. It has recently opened its largest store in UK travel at Birmingham airport.
Never Miss a Retail Update!WH Smith’s high street business fared less well with total revenue down 4% and like-for-like sales down 3%. However, like-for-like sales edged up 1% in December as the retailer benefited from good stock availability.
Carl Cowling, WH Smith group chief executive, said: “I am pleased with the start to the financial year. Our travel business is growing strongly across all our divisions and we have seen a notably strong performance in the UK, our largest division, with total revenue up 15% and like-for-like revenue up 14%.”
“The group is trading well and is in its strongest ever position as a global travel retailer. We are confident of another year of significant growth in 2024.”
