WH Smith has announced continued strong performance across its travel markets.
In an update, the Swindon-headquartered retailer said that as we approach peak trading period in travel, the business' total travel revenue in the 13 weeks to May 27 was up 31% compared to the previous year. Bosses at WH Smith also noted that since the group announced its expectations for the full financial year on April 20, expectations for the full financial year have further improved.
WH Smith has won over 70 stores in travel so far this financial year, with further wins since its previous update in all three divisions including at Salt Lake City and Portland airports in North America.
In a statement the company said: "Our pipeline of stores won and yet to open is over 130. We are very well positioned for further growth across our Travel markets in the current financial year and beyond".
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The retailer credited its UK performance to be driven by category expansion and the ongoing recovery in passenger numbers. In the 13 weeks to 27 May 2023, travel UK total revenue was up 24% on last year. Total revenue compared to the prior year was up 26% in air and up 33% in hospitals. Rail was up 10% "despite the ongoing impact of industrial action".
In addition, high street, total revenue, including online, was up 2% in the 13 week period to 27 May. WH Smith said that its store network performed well with total revenue up 2% versus the comparative period last year.
Looking ahead, the group said that it is in a good position to approach the peak summer trading period.
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