WH Smith has issued a pre-close update for its annual results to 31 August, which it stated were in line with expectations.
The group said its Travel division had continued to perform “strongly” with good sales across all of its channels. It added that its gross margin was in line with plan and its new store opening programme was on track both in the UK and internationally.
WH Smith also highlighted the potential to grow its recently InMotion business both in the US and internationally.
Meanwhile, its struggling High Street division was said to be continuing to perform “in line with expectations”. As part of its profit focused strategy, further cost savings and margin improvements were delivered. WH Smith added that it had continued to focus on its stationery business, developing new ranges and allocating additional space to the category in its High Street stores.
The group is due to release its full results on 17 October.
NAM Implications:
- i.e. unless you have ‘travel’ brands…
- you don’t need WHS…
