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Jan. 22, 2020, 3:09 a.m. EST

WH Smith total revenue up in 20-week period, but falls on same-store basis

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By Adriano Marchese

WH Smith PLC said Wednesday that total revenue rose in the 20-week period to Jan. 18, but that it fell on a like-for-like basis.

The British retailer /zigman2/quotes/201823422/delayed UK:SMWH -3.73%  said revenue at its travel business rose 19%. Excluding InMotion and recently-acquired Marshall Retail Group, however, revenue rose 5%. On a like-for-like basis, revenue rose 3%.

The company said its store opening program in the U.K. remains on track, and expects to open around 15 to 20 new units in the year. It added that around eight of the new openings will be in hospitals.

Outside of the U.K., the company said that its strategy to grow the business continues to progress well, noting the acquisition and progressing integration of the U.S. travel retailer Mashall Retail Group.

“This acquisition is in line with our strategic focus to grow Travel, almost doubles the size of our International Travel business and accelerates growth in the US, the world’s largest travel retail market,” Chief Executive Carl Cowling said.

In its high street business, the company said total revenue was down 5%, with like-for-like revenue also down 5%.

“Looking ahead, we are on track for the current year and as we continue to grow our share of the global travel retail market, the group is well positioned for the years ahead,” Mr. Cowling added.

/zigman2/quotes/201823422/delayed
UK : U.K.: London
2,118.00 p
-82.00 -3.73%
Volume: 222,397
Feb. 26, 2020 10:21a
P/E Ratio
21.78
Dividend Yield
2.75%
Market Cap
£2.52 billion
Rev. per Employee
£94,873
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