WH Smith warns on tough festive trading as sales fall
Fears of a tough Christmas for retailers were fuelled by WH Smith yesterday as it revealed fresh pressure on sales of its books, stationery and sweets.
The high street bellwether said underlying sales, which exclude changes in store space, were down 6 per cent on a year ago in the 10 weeks since 1 September.
WH Smith said underlying sales at its airports, motorway and railway stores were down 4 per cent. At its high street stores, such sales fell 6 per cent.
WH Smith posted a rise in profits for the year to 31 August to £93m, despite falling underlying sales, as it focused on more profitable items such as books rather than CDs.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies