WH Smith sees a recovery at its travel stores as pandemic recedes

Retailer WH Smith has hailed a good start to the new financial year amid a continued recovery in its travel stores.
By Ros Snowdon
Published 11th Nov 2021, 07:58 BST

It came as the company reported a group pre-tax loss of £104m for the year to August, reducing its losses from £226m last year.

Total revenue for the year fell 13 per cent against figures for the previous year, as growth in its high street operation was offset by lower sales from train station and airport shops amid reduced traveller footfall.

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Carl Cowling, group chief executive at WH Smith, said: “The group has delivered a good performance in the evolving trading environment.

WH Smith's high street business delivered a resilient and profitable performanceWH Smith's high street business delivered a resilient and profitable performance
WH Smith's high street business delivered a resilient and profitable performance

“Despite the challenges of the UK high street, more generally, our high street business has delivered a resilient and profitable performance.

“Our online businesses have delivered strong growth in the year, including a record performance from funkypigeon.com.

“We are a financially strong and resilient group with significant opportunities to grow.

“While we continue to plan with caution, the group is well positioned to capitalise on the recovery in our key markets and take advantage of the many exciting opportunities ahead.”