WH Smith like-for-likes fall 5%

Group total sales fell 4% in the same period.

High street like-for-likes slumped 7% in the 8 week period, and dropped 6% in the 21 week period. Excluding the entertainment category, like-for-likes were down 3% in both periods.

In its Travel arm, like-for-likes fell 3% in the 21 week period. The retailer did not give a figure for the 8 week period. In Travel, total sales were flat in the 21 weeks.

WH Smith said although “passenger numbers were inevitably impacted by the weather” it continues to “outperform”.

The retailer has agreed a new five year revolving credit facility of £70m, provided by the Group’s three banks, Barclays Corporate, Lloyds Banking Group and Santander UK PLC.

WH Smith group chief executive Kate Swann said: “During the period we saw a resilient performance across both our High Street and Travel divisions, despite challenging weather conditions. 

Our staff worked extremely hard during this period to maintain the best possible service for our customers. With gross margin ahead of plan and costs tightly controlled, overall performance for the period was in line with expectations.

“Looking ahead, we expect the trading environment to remain challenging and we have planned accordingly.”