WH Smith saw its total group revenue jump 28% in the year to 31 August as its Travel division bounced back from the effects of the pandemic.
In a brief pre-close statement, the group revealed that sales in its stores located in airports and railway stations surged up 42% (+27% LFL) after benefitting from strong passenger numbers during the summer travel period, particularly in the UK.
During the year, WH Smith opened 43 travel stores in North America and 30 in the rest of the world. It plans to open over 80 new stores in the UK and overseas in the coming year, which the retailer said demonstrated the growth prospects in travel across all its geographical markets.
In the group’s High Street business, total sales edged down 1% but grew 1% on a like-for-like basis. The company stated that the unit had performed in line with expectations, with its strategy still focused on cost efficiencies and the return on space.
WH Smith will post its full results on 9 November, with profits on course to hit upgraded expectations that it outlined at the end of May.
