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W H Smith 'cautious'

05.06.08

W H Smith Travel continued to outperform its larger high street compatriot, according to an interim management statement put out by the W H Smith Group. W H Smith High Street recorded a like-for-like sales drop of 3% in the 13 weeks to 31st May, while W H Smith Travel reported like-for-like sales up by 1%, or up by 3% excluding tobacco.

The combined like-for-like sales for W H Smith High Street and W H Smith Travel for the period were down 2% compared to the same period last year. Total group sales in the first 13 weeks of the second half of the financial year were 6%, reflecting the impact of recent acquisitions.

In a statement, the group said: "The economic environment remains uncertain and, whilst we continue to be cautious about consumer spending, we are confident in the outcome for the full year."

Retail Financial W H Smith WHS

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