WH Smith: third-quarter sales up 1%, outlook positive
(CercleFinance.com) - WH Smith, the British newspaper, books and magazines retailer, reported a 1% like-for-like rise in third-quarter sales on Wednesday and said it was confident about its full-year outlook.
The group said that travel business total sales were up 8% in the 13 weeks to 2 June, with like-for-like growth of 3%, which is "good performance" reflecting strength in the group's food offer that now includes a wider selection of healthy options.
Its gross margin increased, in line with the group's plans and the group's new store opening program is on track - both in the UK and internationally, WH Smith said.
While acknowledging "some uncertainty" in the broader economic environment, Group Chief Executive Stephen Clarke said that the company has delivered a good sales performance in the third quarter.
"We remain confident in the outcome for the full year," he said in a trading statement.
WH Smith shares, which have fallen 11.5% so far this year, jumped 5.5% to 2,086 pence on Wednesday, valuing the group at around 2.2 billion pounds.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The group said that travel business total sales were up 8% in the 13 weeks to 2 June, with like-for-like growth of 3%, which is "good performance" reflecting strength in the group's food offer that now includes a wider selection of healthy options.
Its gross margin increased, in line with the group's plans and the group's new store opening program is on track - both in the UK and internationally, WH Smith said.
While acknowledging "some uncertainty" in the broader economic environment, Group Chief Executive Stephen Clarke said that the company has delivered a good sales performance in the third quarter.
"We remain confident in the outcome for the full year," he said in a trading statement.
WH Smith shares, which have fallen 11.5% so far this year, jumped 5.5% to 2,086 pence on Wednesday, valuing the group at around 2.2 billion pounds.
Copyright (c) 2018 CercleFinance.com. All rights reserved.