Last checked at 14 Jun 2017 07:00
WH SMITH PLC
14 June 2017
Trading Update for the 15 Week Period to 10 June 2017
In the 15 week period from 1 March to 10 June 2017 total Group sales were up 2% with like-for-like sales flat.
In our Travel business total sales were up 8% (of which 2% relates to forex benefits from our growing international business) and like-for-like sales were up 5%. This 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 6 units in Rome which will open in July.
In our High Street business we continue with our profit focused strategy, with sales in the period in line with expectations. Total sales were down 4% with like-for-like sales also down 4%. 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 Post Offices that we announced in April 2016. This brings the total number of Post Offices now open within our High Street stores to 165.
Whilst 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.
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Enquiries:
WH Smith PLC
Mark Boyle Investor Relations 020 7406 6320
Nicola Hillman Media Relations 020 7406 6350
Brunswick
Fiona Micallef-Eynaud / Cerith Evans 020 7404 5959