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WH Smith PLC — Earnings Release 2016
Jun 8, 2016
5309_rns_2016-06-08_34aca512-3b2f-4f10-bdf1-68bc995d4697.html
Earnings Release
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RNS Number : 4868A
WH Smith PLC
08 June 2016
WH SMITH PLC
8 June 2016
Trading Update for the 14 Week Period to 4 June 2016
In the 14 week period from 1 March to 4 June 2016 total Group sales were up 2% with like-for-like sales flat.
In our Travel business total sales were up 9% and like-for-like sales were up 3%, in line with expectations. This sales performance reflects our ongoing investment in the UK business and the improvement in passenger numbers. We made further progress actively managing our space to best meet the changing needs of our customers and landlords. Gross margin increased in line with plan. Our new store opening programme is progressing well in both the UK and internationally, where we continue to win additional new units.
In our High Street business we continue with our profit focused strategy, with sales in the period in line with expectations. Total sales were down 4% and like-for-like sales down 3%. Gross margin improvement and cost savings have been delivered in line with plan.
We generate high levels of cash from our operations. As of 7 June 2016, we have purchased 1.7m shares and returned to shareholders £29m of the up to £50m share buyback announced in October 2015.
Looking ahead we continue to focus on profitable growth, cash generation and investing in the business to position us well for the future. We remain confident in the outcome for the full year.
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Enquiries:
WH Smith PLC
Mark Boyle Investor Relations 020 7406 6320
Nicola Hillman Media Relations 020 7406 6350
Brunswick
Fiona Micallef-Eynaud / Cerith Evans 020 7404 5959
This information is provided by RNS
The company news service from the London Stock Exchange
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