WH Smith Confident For Year As Total Sales Rise 2%

The stationer and newsagent saw total sales in its travel arm jump eight per cent higher in the 15 weeks to June 10, including a two per cent fillip from the weak pound on revenues at overseas stores.

The books and stationery retailer said total sales within the Travel business were up 8% and like-for-like sales were up 5%.

It said total sales in its Travel business - which runs concessions at airports, railway stations, and motorway service areas - were up 8%, of which 2% related to forex benefits from its growing global business, with like-for-like sales up 5%.

"This sales performance reflects our ongoing focus on customer service, execution, space and category management as well as the continued increase in passenger numbers", the WH Smith said in a statement.

US Federal Reserve increases rate by 25 bps
At the depths of the recession, the Fed began buying Treasury and mortgage bonds to try to depress long-term loan rates. The decline in inflation appears to have been driven by one-off factors such as declines in telecoms and drugs prices.

WHSmith said it was on target to open 15 units in the United Kingdom this year and have won further units internationally including six units in Rome which will open next month. However, a tight control of costs meant its gross margin had improved.

However, sales were down 4 percent at its UK-focused high street business which operates more than 600 stores.

The Post Office programme is on track, WH Smith said, with 165 Post Offices now open within WH Smith's high street stores.

WH Smith said it remained "confident" in the full-year result, despite "some uncertainty with regard to the broader economic environment".