Trading Update

RNS Number : 7497W

WH Smith PLC

12 November 2014

 



12 November 2014

WH Smith PLC

Trading Update for the 10 Week Period to 8 November 2014

Total Group sales in the first 10 weeks of the financial year were flat with like-for-like sales down 1%.

WHSmith Travel total sales were up 7% and like-for-like sales were up 2%. Gross margin has increased in line with our plan and we continue to make good progress with our store opening plan both in the UK and internationally. 

WHSmith High Street total sales were down 5% and like-for-like sales were down 4% in the period. Gross margin has increased in line with our plan and cost saving initiatives are on track.

On 16 October 2014 we announced our intention to return up to £50m of cash to shareholders via a rolling share buyback programme. As at 11 November 2014, we have purchased 0.6 million shares and returned £6.1m to shareholders.

The new financial year has started well however the peak trading periods for both businesses are ahead of us.  We remain focused on profitable growth, cash generation and investment in new opportunities.

Enquiries:

WH SMITH PLC

Mark Boyle                                                      Investor Relations     020 7406 6320

Nicola Hillman                                                 Media Relations        020 7406 6350

Brunswick

Simon Sporborg / James Olley                                                       020 7404 5959

 

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