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Sales fall at WH Smith in early autumn
10.11.11 | Lisa Campbell
Total group sales at W H Smith have dropped by 3% in the last 10 weeks, with like-for-like sales down by 6% in comparison to last year.
This morning (10th November) the company reported in its interim financial results for the 10 weeks from 1st September to 5th November that its travel business was performing better than its high street arm. Total sales for travel were flat and like for-like sales were down by 4%, whereas on the high street, total sales had fallen 5% and like-for-like sales were down 6% in the period.
For travel, WHS said: “Gross margin has increased in line with our plan and we continue to identify further opportunities for growth both in the UK and internationally.”
On the high street, the company said it continued to focus on its strategy of rebalancing the mix business towards its core categories.
“We have made further progress on gross margin and costs continue to be tightly managed,” WHS said.
The company added it continues to remain resilient in a challenging climate, and believes it is “well positioned for continued profitable growth".