Bookseller and stationer WHSmith posted a 4 per cent rise in total sales in the first 10 weeks of its financial year but warned Christmas trading would be competitive.
Like-for-like sales at WHSmith's travel division were flat between September 1 and November 8, and slid 4 per cent at its high street stores.
The total sales rise, WHSmith said, reflected “the impact of recent acquisitions and new business wins”.
The retailer reassured: “Whilst we remain cautious about the consumer environment and anticipate competitive trading in our markets over the key Christmas period, we have planned accordingly and the current financial year has started as we expected.”
Singer Capital Markets analyst Matthew McEachran said the update was “pretty solid” given the tough retail backdrop.
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