WH Smith to open more shops as travel sales surge
WH Smith has said it is on track to open 110 shops this financial year, with most of these set to open internationally.
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Your support makes all the difference.WH Smith has said it is on track to open 110 shops this financial year as the retailer’s travel arm saw sales continue to grow.
The high street firm said it was particularly boosted by its stores in UK airports, railway stations and hospitals in recent months.
The company said group revenues increased by 8% over the 20 weeks to January 20, compared with the same period last year.
UK travel sales grew by 15% over the period, with the overall travel division recording 13% growth.
“We continue to see improving passenger numbers across UK air, a strong performance in hospitals, and rail is performing well,” the company said.
This growth was partly offset by its high street business, which saw sales decline by 4% over the 20-week period.
The company said it saw like-for-like for growth of 1% across its UK shops despite this and stressed that this was in line with expectations.
Group chief executive Carl Cowling said: “The group is trading well and is in its strongest ever position as a global travel retailer.
“We are confident of another year of significant growth in 2024.”
Mr Cowling particularly highlighted a strong performance by the group’s North American business, where the company has pointed towards “substantial” growth potential through new stores.
“We continue to make excellent progress in North America, and I am particularly excited by the substantial growth opportunities that exist in this market,” he said.
“We are on track to open over 50 new stores in North America this financial year.
“In total, we are on track to open over 110 stores this financial year.”
The company said this will include 15 new stores across the UK, with ambitions to open a similar number each year for the near future.