WH Smith PLC on Friday said it has made a robust start to its financial year, as its pivot toward travel retail proves inspired.
Total sales in the first 20 weeks to January 20 rose 8% year-on-year,.
WH Smith PLC on Thursday reported strong interim revenue and profit growth, on the back of strong momentum across its global Travel business.
WH Smith is a books and stationary retailer that operates. | April 20, 2023
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29th April 2021
WH Smith has set out plans to open 100 new stores in travel locations despite its operations suffering heavy losses during the pandemic.
The openings will take place during the next three years with over 60 in North America. The retailer has secured £325m in financing to fund its growth plan in the form of convertible bonds, as well as a £250m credit facility from its banks.
WH Smith generated more than half of sales and profits from its stores in airports, train stations, and motorway service areas before the pandemic struck. It expects trade to recover to 2019 levels within the next two to three years.