WH Smith has reported a 4% fall in like-for-like sales in the 18 weeks to 2 July.
Total sales were down 1%, and the company said that it expected to meet expectations for the full year despite being “cautious about consumer spending.”
As usual the Travel stores were the better performing part of the business. Like-for-likes there declined 2% but total sales were up 2%. Seven more international units were agreed in the period taking the total to 47.
In the high street stores like-for-likes were down 4% and total sales down 3%. Cost savings were “delivered in line with plan.” Gross margins improved in both parts of the business.