Trading Statement

RNS Number : 4868A

WH Smith PLC

08 June 2016

 

WH SMITH PLC

8 June 2016

Trading Update for the 14 Week Period to 4 June 2016

In the 14 week period from 1 March to 4 June 2016 total Group sales were up 2% with like-for-like sales flat.

In our Travel business total sales were up 9% and like-for-like sales were up 3%, in line with expectations. This sales performance reflects our ongoing investment in the UK business and the improvement in passenger numbers. We made further progress actively managing our space to best meet the changing needs of our customers and landlords. Gross margin increased in line with plan. Our new store opening programme is progressing well in both the UK and internationally, where we continue to win additional new units.

In our High Street business we continue with our profit focused strategy, with sales in the period in line with expectations. Total sales were down 4% and like-for-like sales down 3%. Gross margin improvement and cost savings have been delivered in line with plan.

We generate high levels of cash from our operations. As of 7 June 2016, we have purchased 1.7m shares and returned to shareholders £29m of the up to £50m share buyback announced in October 2015.

Looking ahead we continue to focus on profitable growth, cash generation and investing in the business to position us well for the future. We remain confident in the outcome for the full year.

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Enquiries:

WH Smith PLC

Mark Boyle                             Investor Relations                            020 7406 6320

Nicola Hillman                        Media Relations                              020 7406 6350

Brunswick

Fiona Micallef-Eynaud / Cerith Evans                                           020 7404 5959

 

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