UK/INTERNATIONAL. WHSmith today posted a trading update for the 13 weeks to 31 May, with Travel revenue climbing +5% year-on-year and +7% on a constant currency basis. In a statement, the company said it is well placed for the peak Northern Hemisphere peak summer period and “on track to deliver the full year in line with expectations”.
In the key UK market, Travel revenue rose +5% on last year with like-for-like revenue up +6%. Across the channels, like-for-like revenue in Air was up +7%, Rail was up +6% and Hospitals rose +3% in the 13-week period.
WHSmith stated: “We continue to invest in the quality of our UK store portfolio. We recently refitted seven stores at Edinburgh Airport, including our latest one-stop-shop format, a new standalone bookshop, and our first Smith’s Family Kitchen coffee proposition in an airport.”
In North America, revenue climbed +3% overall and +7% on a constant currency basis. Like-for-like revenue rose +2% though the key Air division posted +4% growth and was up +9% on a constant currency basis.
WHSmith opened ten stores in the period across airports including Calgary, Denver, Detroit and Washington.
The Rest of the World business showed a +9% revenue rise for the 13-week period to 31 May, climbing +12% on a constant currency basis and up +7% on a like-for-like basis, as passenger numbers continue to improve across these markets.
On 28 March WHSmith announced the sale of its UK High Street business to Modella Capital. The company said it is on track to complete the sale by the end of June. ✈
