3rd Jun 2015 06:29
LONDON (Alliance News) - WH Smith PLC Wednesday reported a rise in total sales in the 13 weeks to May 30, although it said that like-for-like revenue was flat, as its Travel business outperformed the High Street business.
The books and stationery retailer said that total group sales in the 13 weeks were up 1% compared to the same period the year before, but like-for-like revenue remained flat year-on-year.
The Travel business performed well, with total sales growth of 8% and like-for-like sales up 4%, and the 'Food to Go' range continues to be well-received by customers following its roll-out last summer, WH Smith said, adding that its gross margin also improved in this area of the business.
However, the High Street business suffered a 4% decrease in total sales, with like-for-like sales also down 4%, but the retailer said that gross margin improvement and cost savings have been delivered in line with plan.
"We will continue to focus on profitable growth and cash generation while investing in new opportunities in both Travel and High Street that position us well for the future. We remain confident in the outcome for the full year," WH Smith said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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