WH Smith High Street sales still falling

WH SMITH

WH Smith’s High Street sales continue to decline, but the bookseller and stationer has had a further increase in sales in its travel outlets.

In the 20-week period to 20. In January, the sales in the shops of the High Street were 5%, like-for-like sales fall by 4%, in line with expectations.

The company is said to be sold, this was, in part, less spoof-humour books, compared with the same time last year.

But overall, sales in travel grew, were up 7%, like-for-like sales growth of 3%.

Total sales were flat year-over-year and like-for-like sales by 1% above the 20-week period.

Like-for-Like sales, a common measure of retailer performance, strip the effect of new store openings.Efficiency Program

The pattern, both on the High Street and in travel agencies, sales, was unchanged from earlier in the year 2017. Group chief executive Stephen Clarke said: “Our travel business, now makes almost two-thirds of the group’s net income for the year and we continue to be a strong revenue growth in all our major channels.

“This was due to the ongoing investment in the business and the continued growth of passenger numbers at our airport Shops over the Christmas period.”

He added that the company UK-store program has been on the track, with 15 new units are expected to open this year.

The new major airport stores, Gatwick and Stansted in the reporting period opened, and both performed well.

The company will continue to expense with hits-efficiency program, and expects the full-year savings of approximately £12m, just in front of his goal.