Margins up, sales down at WH Smith

Newsagent chain WH Smith has got off to a subdued start to its new financial year, with sales down year-on-year, though margins continue to harden.

Newsagent chain WH Smith has got off to a subdued start to its new financial year, with sales down year-on-year, though margins continue to harden.

Total sales in the 10 weeks since September 1st were down 3% year-on-year, while like-for-like (LFL) sales were down 4%. The group has become used to sales drifting lower, however - in the last financial year LFL sales were down 5% - and has been concentrating on boosting margins.

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