UK. WHSmith has reported a revenue rise of +7% (like-for-like -1%) for the 20 weeks to 18 January in its latest trading update. This was driven mainly by the Travel division, where revenue surged by +20% (+5% excluding InMotion and Marshall Retail Group) with like-for-like revenue up +3%.
A store opening programme in the UK will feature 15 to 20 units this year. Crucially this will include the opening of a new flagship pharmacy format at Heathrow Terminal 2, after the company partnered with Well Pharmacy.
WHSmith completed the acquisition of Marshall Retail Group (MRG) on 20 December. WHSmith said: “The store opening programme for MRG remains on track and integration into the Group is progressing well. Since announcing our intention to acquire the business on 17 October 2019, we have won a further eight units in the US, which include MRG, WH Smith and InMotion branded stores, demonstrating the growth opportunities we see in the US.”
In Europe, WHSmith recently won a tender at Berlin Brandenburg Airport to open three units, including its first InMotion store in Germany. The new airport will open in October, as reported.
Following the acquisition of MRG, WHSmith Travel operates over 600 stores outside of the UK (including over 280 stores in North America) and over 590 stores in the UK, making a total of nearly 1,200 Travel stores across 32 countries.
Group Chief Executive Carl Cowling said: “During the period, we completed the acquisition of MRG ahead of plan and integration into the Group is progressing well. This acquisition is in line with our strategic focus to grow Travel, almost doubles the size of our International Travel business and accelerates growth in the US, the world’s largest travel retail market.”
