28th Aug 2019 09:12
(Alliance News) - WH Smith PLC on Wednesday said it expects its full-year results to be in line with expectations as its Travel outlets remained strong while its High Street shops continued to cut costs.
In the financial year ending on Saturday, the FTSE-250-listed retailer said its High Street business, which sells books, magazines and stationery, performed according to forecasts. The unit is expected to have made GBP9.0 million in cost savings in financial 2019, and the company had said in April that GBP5.0 million of these cuts would occur in the second half.
WH Smith added that 202 Post Offices now are open in its High Street stores.
The WH Smith Travel unit, which caters to commuters and travelers, "performed strongly with good sales across all channels" and gross margin in line with forecasts, the company said.
US-based travel retailer InMotion Entertainment Group LLC, which the company purchased for USD198.0 million in October 2018, has continued to grow during the financial year, WH Smith added.
WH Smith will publish its full-year results on October 17.
Shares in the retailer were down 0.2% at 1,990.00 pence each in London on Wednesday morning.
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