WH Smith travel sales jump 7% ahead of high street arm sale
The group, which is on track to deliver full-year results in line with expectations, saw its UK division’s total revenues rise 5% on last year
WH Smith has reported that its travel business revenues have increased 7% on a constant currency basis during the 13-week period to 31 May.
The update follows WH Smith’s sale of its high street estate to Modella Capital on 28 March, meaning that it now identifies as “a pure play travel retailer”.
WH Smith is expected to complete the deal at the end of June.
The group, which is on track to deliver full-year results in line with expectations, saw its UK division’s total revenues rise 5% on last year and its like-for-like revenues increase by 6%.
Across WH Smith’s channels, like-for-like revenues rose by 7% in airports, 3% in hospitals, and 6% in train stations during the period.
As a result of its performance, the group believes it is “well positioned for peak summer trading as a pure play travel retailer”.
WH Smith recently refitted seven stores at Edinburgh airport, including its latest one-stop-shop format, a new standalone bookshop, and its first Smith’s Family Kitchen coffee proposition in an airport.
WH Smith is strengthening its focus on cost and cash discipline, though it maintains it is in a strong position to capitalise on “substantial” value creating opportunities across its markets.
