WH Smith reported preliminary results for fiscal 2014, with sales at their High Street stores falling 6 percent to £684 million. Book sales overall fell more, down 8 percent for the year as the “market continues to be challenging” (after declining 6 percent in the previous year). Same-store sales were down 5 percent, but their cost savings program helped profit for the segment rise 4 percent to £58 million. The company notes: “While the eBooks market continues to see growth, it is evolving as we had expected with rates of growth and value penetration slowing. eBooks remain a relatively small […]
