WHSmith’s sales have been obliterated by the coronavirus as lockdown restrictions decimated its travel division.
The stationery specialist said revenue in April plummeted 85% year on year as sales made through its growing portfolio of airport and train station shops tumbled 91%. Revenue from the retailer’s high street locations was down 74% during the same month.
WHSmith said the “vast majority” of its travel stores are temporarily closed amid the pandemic, which has caused a “significant decline in passenger numbers”.
It continues to operate 130 stores inside UK hospitals, as well as 203 high street locations that include Post Offices.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.