Pipeline of over 130 stores for WHSmith
WHSmith has said it has a global pipeline of over 130 stores “won and yet to open”, as the retailer continues its international expansion.
This comes as the retailer publishes its trading update for the 13 weeks to 27 May 2023, in which group revenue increased by 23% against 2022.
WHSmith’s travel business has seen a particularly strong start to the year, with total travel revenue increasing by 31% compared to the same period a year before, up 18% on a like-for-like basis.
Travel revenue in the UK rose by 24%, with airport revenue growing by 26% and hospital revenue increasing 33%. Rail revenue grew by 10%, despite the impact of ongoing industrial action.
High street revenue also saw an increase, albeit a smaller one, up 2% compared to 2022.
“Looking ahead, the Group is in a good position as we approach the peak summer trading period. Trading is strong across all three travel divisions, and we are very well positioned to capitalise on the substantial growth drivers across our markets”, WHSmith said.
The retailer has “modestly improved” its expectations for the financial year.