WH Smith said today that its full-year performance is in line with expectations after delivering another period of robust growth in its Travel division.
During the fourth quarter to 31 August, the group’s total sales rose 6% with a like-for-like increase of 4%. This meant that for the year as a whole, group sales climbed 7%, with like-for-likes up 5%.
Within its core UK Travel division, underlying sales rose 8% in the quarter and 10% for the year, boosted by increased passenger numbers in airports and train stations. The business has also benefitted from a broadening of its offer, most notably in food and drinks. This included the launch earlier this year of a new food-to-go offer branded Smith’s Family Kitchen, which is performing “ahead of expectations”. More recently, WH Smith opened its first own-brand Smith’s Kitchen café at Princess Anne Hospital, Southampton.
Meanwhile, the group’s High Street division suffered a 3% like-for-like sales decline in the latest quarter and a 2% fall across the year. WH Smith stated that the unit had performed in line with expectations. It highlighted the opening of 30 Toys “R” Us shop-in-shops within its stores and plans to open a further 37 ahead of Christmas.
Carl Cowling, WH Smith’s Chief Executive, said: “We have ended the financial year in a strong position, delivering a performance in line with our expectations with good growth across our Travel businesses. Our UK division performed particularly well over the peak summer trading period.”
The company will publish its full results on 14th November.
