WHSmith sales grow 28%

In the UK, retailer WHSmith has reported a 28% year-on-year increase in revenue in the 12 months to 31 August, driven by a 42% spike in its travel business, reports the Bookseller.

In a trading update, WHSmith reported that its travel businesses ‘continued to benefit from the recovery in passenger numbers across all our key travel markets’. Revenue at its UK travel stores grew 36%, with North America up 31% and ‘rest of the world’ up 98%.

High Street revenues were down 1% compared to last year, which WHSmith said was ‘in line with expectations’, adding that its strategy ‘remains unchanged as we continue to focus on cost efficiencies and the return on space’.

In the past year, WHSmith has opened 43 stores in North America, and 30 stores in the rest of the world. It anticipates opening 80 new stores across all its travel businesses in the next year.

Category: International news