Bookseller and stationer WHSmith said it was trading in line with expectations despite a sales fall at both divisions.
Like-for-like turnover at WHSmith’s travel stores fell 1% between September 1 and November 6, when the decline at the high street arm was 4%. Total group sales fell 2%.
The retailer, which is in the midst of a £50m share buyback programme, said: “We remain a resilient business and are well positioned for continued growth in the future.”
Arden Partners analyst Nick Bubb said that the performance looked “a tad disappointing” but maintained: “WHSmith are expert at engineering higher gross margins and lower costs out of the business mix and we are happy with our full-year £94m [profit forecast] at this stage, with the key Christmas spending and summer travel periods to come.”