Margins improve at WH Smith
WH Smith, the High Street and travel hub newsagent chain, saw like-for-like sales dip at the start of the second half of its financial year.
WH Smith, the High Street and travel hub newsagent chain, saw like-for-like sales dip at the start of the second half of its financial year.
Total group sales in the 15 week period from February 26th to June 9th were down 1% on a year earlier, with like-for-like (LFL) sales off 3%.
The firm's Travel division saw sales rise 1% overall but dip 3% on a LFL basis. The division's gross margin improved, with management keeping a tight rein on costs.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
WH Smith's High Street shops saw sales ease 3% overall and fall 4% on a LFL basis. Gross margins in this division continue to grow and cost savings have been delivered in line with management projections.
"The economic environment remains uncertain and whilst we continue to be cautious about consumer spending, we remain confident in the outcome for the full year," the company said.
JH
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published