WH Smith PLC Trading Statement (3890Q)
June 06 2018 - 1:00AM
UK Regulatory
TIDMSMWH
RNS Number : 3890Q
WH Smith PLC
06 June 2018
WH SMITH PLC
6 June 2018
Good third quarter sales across the Group
Trading Update for the 13 Week Period to 2 June 2018
In the 13 week period from 1 March to 2 June 2018 total Group
sales were up 4% with like-for-like sales up 1% compared to last
year.
In our Travel business total sales were up 8% and like-for-like
sales were up 3%. This good performance reflects our continued
investment in our UK and international businesses and growth in
passenger numbers. We saw good sales from our food offer, including
a wider selection of healthy eating options. Gross margin increased
in line with plan and our new store opening programme is on track
in both the UK and internationally. We are on target to open
between 15 and 20 units in the UK this year and are pleased with
the recent opening of our latest standalone bookshop at London
Bridge Station. This brings the total number of standalone
bookshops now open to eleven. In our international business, we
look forward to opening over the summer the eight units recently
won in Madrid Airport, bringing the total number of units open
internationally to 282, with a further ten new units due to open
this year.
In our High Street business we continue with our profit focused
strategy. Total sales were down 1% with like-for-like sales also
down 1% in what is our quietest trading period. Gross margin
continues to improve and cost savings have been delivered in line
with plan. We continue to invest in our new store format trials and
evaluate their performance. We have extended the trial to a further
ten stores, as well as developing a trial for smaller stores.
Stephen Clarke, Group Chief Executive commented:
"We have delivered a good sales performance in the third quarter
in both our Travel and High Street businesses. Whilst there is some
uncertainty in the broader economic environment, WHSmith serves
millions of customers each week and continues to grow both
internationally and in the UK. 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."
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTEALKSEAPPEFF
(END) Dow Jones Newswires
June 06, 2018 02:00 ET (06:00 GMT)
Wh Smith (LSE:SMWH)
Historical Stock Chart
From Apr 2024 to May 2024
Wh Smith (LSE:SMWH)
Historical Stock Chart
From May 2023 to May 2024