23rd Jan 2007 07:00
WH Smith PLC23 January 2007 23 January 2007 WH SMITH PLC CHRISTMAS TRADING STATEMENT Continued improvement in profitability, in line with expectations WH Smith PLC is today providing an update on its trading performance for the 7weeks and the 20 weeks to 20 January 2007. Total like for like (LFL) sales were down 6% for the 20 weeks. As anticipated,we saw competitive trading in our markets, but we continued to deliver goodprofit performance in line with our expectations. In our High Street division, LFL sales for the 7 and 20 weeks were down 8% and9% respectively, reflecting our strategy to rebalance the mix of our business.Gross margin improved by around 300 basis points as a consequence of thisstrategy, as well as through better buying, low cost sourcing and improvedmarkdown management. We continue to focus successfully on cost control. The Travel division continued its strong performance with good sales and margingrowth. LFL sales for the 20 weeks were up 4%, accompanied by a furtherimprovement in gross margin, driven by mix changes, improved ranges andsuccessful promotions. Commenting on the Group's performance, Kate Swann, Group Chief Executive said: "In a competitive period on the high street, we continued to deliver ourstrategy to improve profitability. We increased the pace at which we arerebalancing the mix of our business towards our core categories. In our Travelbusiness, both sales and gross margins were up, with continued progress indeveloping new growth opportunities. "Looking ahead, we remain cautious about consumer spending in our markets andour plans reflect this." -ENDS- Enquiries: WH Smith PLCSarah Heath Media Relations 020 7851 8850Mark Boyle Investor Relations 020 7851 8820 BrunswickTom Buchanan 020 7404 5959Pam Small Advance Notice of Results WH Smith PLC will announce its Interim Results 2007 on Thursday 19 April 2007. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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