WHSmith has recorded flat total revenue in its third quarter, the first such period sales have not declined in five years.
But the bookseller and stationery retailer revealed that in the 14 weeks to June 2 like-for-like sales fell 2%.
WHSmith total sales across its travel stores grew 4% and like-for-like sales were flat.
WHSmith like-for-like sales across its high street stores performed ahead of expectations despite falling 4%. Total sales also fell 4%.
It revealed it has bought 3.2 million shares and returned £33m to shareholders of the £50m share buyback announced in October.
And it has agreed a new five year committed revolving credit working capital facility of £93.3m which will expire in June 2019.
WHSmith said: “We confirm that our financial position is in line with market expectations and our balance sheet remains strong. We continue to generate high levels of cash from our operations.
“We continue to make progress in both our travel and high street businesses and remain confident in the outcome for the full year.”
WHSmith said its travel store opening programme in the UK and overseas is progressing well and it has recorded gross margin improvement across both parts of the business. It added that cost savings have been made across its high street division are in line with expectations.
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