WHSmith has praised the “strong momentum” across its increasingly core travel business, not least in the US, while its high street stores performed “in line” with expectations.
For the 21 weeks to January 25, 2025, WHSmith’s total travel sales were up 7% for the period compared to the previous year, up 8% in constant currency and 6% on a like-for-like basis.
Its high street business, by comparison, was down 6% in total revenues and constant currency, and 3% like for like for the same period.
This comes just days after it was first reported that WHSmith was “exploring potential strategic options” for its high street arm and has been in talks with a “number of prospective buyers of the division for several weeks” about a possible sale.
Breaking down the travel business by region, total UK sales for the period were up 7% in total and 7% on a like-for-like basis. North American travel sales were up 3% total and 3% like for like, while the rest of the world was up 12% total and 9% like for like.
While North America did not perform the strongest of its travel businesses, WHSmith sees the most room for growth in the region. Chief executive Carl Cowling said the period saw “a notable shift in like-for-like revenue growth” and that the retailer has won eight new stores at Orlando airport in the period.
In terms of outlook, WHSmith said it has “made a good start to the financial year” and is confident of “another year of good growth in 2025” – despite the economic uncertainty.
Cowling said: “The group has had a good start to the financial year and we continue to see strong momentum across our core travel business.
“Our UK travel business has delivered another excellent performance across all channels, as we continue to make good progress with the rollout of our one-stop-shop for travel essentials format.
“In North America, we have seen a notable shift in like-for-like revenue growth, up 3%, as a result of the actions we have taken to enhance our ranges and introduce new categories. We are also delighted to announce that we have won eight stores at Orlando airport, further to our announcement in November and, more recently, a further four stores at Portland airport. We now have a new store pipeline of around 60 stores in North America.
“I would like to thank our colleagues across the group who go above and beyond to serve the millions of customers that shop with us.
“The group is in a strong position and while there is some economic uncertainty, we are confident of another year of good growth in 2025.”
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