Thursday, October 23, 2008

WHSmith will roll out standalone travel bookshops after an "encouraging performance" in its last financial year.

Alongside continued cost control and efficient use of store space, a strong showing by WHSmith's travel arm helped lift group profit before tax and exceptionals 15 per cent to £76 million in the year to August 31.
While like-for-likes slipped 2 per cent across the group and 3 per cent at high street stores, they rose 1 per cent at the travel business. Total travel sales rocketed 22 per cent and profit climbed 14 per cent to £41 million.
The bookseller and stationer said it will open another six stores under the specialist bookstore format by Christmas, bringing the total to 15. Group chief executive Kate Swann said: "We have seen further strong performance from travel with the integration of new businesses proceeding in line with our plan. In high street, we continue to rebuild our authority in our core categories."
Read the complete story at Retail Week online.

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