WH Smith’s journey enterprise bounces again from Covid
Swindon-headquartered newsagent WH Smith PLC has continued to see a robust efficiency from its journey enterprise within the second half of the yr, with Group income comfortably in extra of pre-Covid ranges.
The corporate stated that regardless of some ongoing disruption, its journey companies has continued to profit from the restoration in passenger numbers throughout all our key journey markets.
In an announcement, the corporate stated: “As passenger numbers proceed to get well, we’ve got delivered robust ATV progress and better penetration, pushed by our ongoing technique to considerably improve our ranges and develop our classes, resembling well being and sweetness and expertise.”
Its UK enterprise is performing strongly and North America continues to indicate good momentum. Whereas the remainder of the world has been slower to get well it’s now seeing good progress throughout all markets, with the strongest restoration in Europe and, extra just lately, notable enhancements in Australia and Asia.
It’s persevering with with its retailer opening programme and says it stays in a robust place to profit from the numerous progress alternatives throughout the worldwide journey retail market. It has greater than 130 shops received and but to open and there are a selection of ongoing tenders. Extra just lately, it has received an additional six new shops in Brussels airport and additional important wins in North America together with at Salt Lake Metropolis and Los Angeles Worldwide airports.
The retailer’s excessive avenue enterprise is “performing in step with expectations”. Gross sales within the second half had been adversely impacted following the cyber assault on its on-line greeting card enterprise, funkypigeon.com, revealed earlier this yr. It’s attempting to mitigate prices in its excessive avenue enterprise by additional important price saving alternatives, most notably by reductions in lease.
