Published Date:
06 June 2008
A RESILIENT performance by its travel stores helped news, books and stationery retailer WH Smith report sales figures in line with expectations yesterday.
Like-for-like sales in the high street side of the business dropped 3 per cent in the 13 weeks to 31 May, but this was offset by a 1 per cent rise for the retailer’s shops in airports, railway stations and motorway service areas.
WH Smith shares rose as it said it remained “confident” for the financial year to the end of August.
Nick Bubb, a retail analyst at Pali International stockbrokers, said it was “reassuring” to see that WH Smith remained on track for profits of £75 million.
The company’s travel division, which recently saw half-year profits increase by 13 per cent to £17m, operates from more than 430 units.
High street profits fell by £1m to £50m in the half-year results announced in April.
The division has recently started the process of integrating Post Office counters into a number of its sites.
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Last Updated:
05 June 2008 8:47 PM
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Source:
The Scotsman
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Location:
Edinburgh
