WHSmith raises profit expectations
By Sarah Wood | 31st May 2023
WHSmith has raised its profit expectations for the full financial year, as it anticipates big demand in airports over the summer.
The retailer, which has stores in Gloucester, Cheltenham, Tewkesbury, Stroud and Cirencester, reported a 31% increase in sales for its travel arm in the 13 weeks to May 27.
In the UK, sales for the travel arm were up 24% - with a 26% increase at airports, 33% increase in hospitals and 10% at railway stations, despite strike action, as reported by Retail Gazette.
As a result, first quarter sales were up 23% year on year.
High street and online sales were up a more modest 2% compared to last year.
WHSmith said it was in a "good position" ahead of the peak summer trading period and its expectations for the full year have improved.
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