WH Smith PLC Trading Statement (6217Z)
May 21 2019 - 1:01AM
UK Regulatory
TIDMSMWH
RNS Number : 6217Z
WH Smith PLC
21 May 2019
WH Smith PLC
21 May 2019
Trading Update for the 11 Week Period to 18 May 2019
Strong sales across the Group
In the 11 week period from 1 March to 18 May 2019 total Group
sales were up 15% (up 4% excluding InMotion) with like-for-like
sales up 1% compared to last year.
WH Smith Travel
In our Travel business total sales were up 26% (up 7% excluding
InMotion) and like-for-like sales were up 3%. This good performance
reflects our ongoing focus on format development, customer service,
space and category management as well as our continued investment
in our UK and international businesses. Gross margin is in line
with plan and our new store opening programme is on track both in
the UK and internationally. We are on target to open around 20
units in the UK including 10 hospital stores.
Our new large format Travel stores in the UK are performing
well. Both landlord and customer reaction to our recently opened
new WH Smith pharmacy format in Gatwick North terminal has been
positive.
Our hospital channel continues to grow strongly. It will
overtake rail to become our second biggest channel, by revenue,
this financial year and we see good potential to grow our hospital
channel further.
Our International business continues to grow strongly and our
integration of InMotion is progressing well. Our acquisition of
InMotion gives us a business with the potential to grow both in its
domestic US market as well as overseas, and we recently opened our
first InMotion store outside the US, in Alicante Spain.
WH Smith High Street
In our High Street business we continue with our profit focused
strategy. Total sales were down 1% and like-for-like sales were
also down 1%. Gross margin continues to improve, and cost savings
have been delivered in line with plan.
Our stationery business continues to perform well and we
continue to invest in developing our ranges and allocating
additional space in stores.
We now have 184 Post Office franchises open including 17 new
Post Offices. Customer reaction to the new modern environment and
extended opening hours has been positive.
Stephen Clarke, Group Chief Executive commented: "We have
delivered a strong sales performance in the third quarter in both
our Travel and High Street businesses. Whilst there is some
uncertainty in the broader economic and political environment, we
are well placed as we approach the key summer trading period in
Travel. 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 3981 1285
Nicola Hillman Media Relations 01793 563354
Brunswick
Fiona Micallef-Eynaud / Cerith Evans 0207 404 5959
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END
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