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WH Smith sees a tough festive period
Retail chain WH Smith said it remained cautious on trading prospects after seeing sales slip in the 10 weeks to November 7.
Total group sales since the start of its financial year on September 1 slid 1 per cent on 2008, while revenues in stores at airports and railway stations fell 2 per cent on a like-for-like basis.
The worst performing sector was the high street, where same-store sales dipped 4 per cent, although the company said its overall performance was in line with expectations.
In a brief trading update, it said it was braced for a challenging festive season. WH Smith said: "Whilst we remain cautious about the consumer environment and anticipate competitive trading in our markets over the key Christmas period, we have planned accordingly."
The impact of the recession has seen WH Smith focus on better buying terms, improved product sourcing and greater control of promotional activity.
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Friday 25 May 2012
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