Trading Statement

RNS Number : 1871M

WH Smith PLC

26 January 2009

 



26 January 2009

WH SMITH PLC

TRADING STATEMENT

Profits in line with expectations

WH Smith PLC is today providing an update on its trading performance for the 9 weeks and the 20 weeks to 17 January 2009.

Group total sales were flat with like for like (LFL) sales down 5% for the 20 weeks. 

The Group delivered a solid performance. In our High Street division we continued to deliver our strategy in a challenging trading period. In our Travel division we made progress in a tough environment. We increased gross margins and maintained tight cost control across both divisions.   

In High Street, LFL sales for the 9 and 20 weeks were down 7% and 7% respectively and gross margin improved strongly year on year, reflecting the performance of Entertainment.  Excluding Entertainment, LFL sales for the 9 and 20 weeks were down 3%.

In Travel, total sales were up 20% and LFL sales were down 1% for the 20 weeks. Sales continued to outperform passenger numbers and gross margin improved further.

Commenting on today's announcement, Kate Swann, Group Chief Executive said:

'As anticipated, trading conditions on the high street were challenging over the Christmas period.  However, we continue to successfully deliver our strategy and maintain operational flexibility, increasing gross margins and accelerating our cost reduction plans. We are pleased with the progress in our Travel business, despite the expected weaker passenger numbers in Air. 

'Looking ahead, we expect consumer spending in our markets to remain subdued and we have planned accordingly.'

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Enquiries:

WH Smith PLC
Sue Barratt	Media Relations	020 7851 8850
Mark Boyle	Investor Relations	020 7851 8820
Brunswick
Tom Buchanan		020 7404 5959

Advance Notice of Results

WH Smith PLC will announce its Interim Results 2009 on Thursday 23 April 2009.  

 

END

 

 

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