WH Smith sales boosted by travel segment

(Sharecast News) - WH Smith posted an 8% jump in total group revenues for the 20 weeks to 20 January 2024, as it hailed strong momentum in the travel business and struck an upbeat note on the outlook. Total sales in the travel segment were up 13% on the same period a year earlier, or 16% on a constant currency basis.

Total revenue in Travel UK - the company's largest segment - rose 15% on the same period a year earlier, or 14% on a like-for-like basis. WH Smith said it continues to see improving passenger numbers across UK Air, and a strong performance in Hospitals, while Rail is performing well.

Revenue in North America rose 7%, but was flat on a LFL basis, while Rest of World saw total growth of 19% and LFL growth of 12%.

Chief executive Carl Cowling said: "During the period, we successfully opened our largest UK Travel store at Birmingham airport - a one-stop-shop for travel essentials - and we have received very positive feedback from both landlord and customers.

"We continue to make excellent progress in North America, and I am particularly excited by the substantial growth opportunities that exist in this market. We are on track to open over 50 new stores in North America this financial year.

"In total, we are on track to open over 110 stores this financial year.

"The group is trading well and is in its strongest ever position as a global travel retailer. We are confident of another year of significant growth in 2024."