12th Nov 2014 08:03
LONDON (Alliance News) - WH Smith PLC on Wednesday said its total group sales for the ten weeks to November 8 were flat year-on-year, with sales in its Travel business rising but High Street sales falling.
On a like-for-like basis, sales in the ten-week period fell 1%, the FTSE 250 retailer said.
Total Travel division sales increased 7% and were up 2% on a like-for-like basis. The gross margin in the business has increased in line with its expectations, WH Smith said, and it said it is making progress on new store openings in the UK and internationally.
High Street sales were down 5% in total and 4% lower on a like-for-like basis, though its gross margin is in line, and the company said its cost-cutting measures were proceeding in line.
The group said its new financial year has started well and said its peak trading period remains ahead of it.
WH Smith shares were up 0.3% at 1,210.00 pence at the open Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Wh Smith