WHSmith reported interim half-year results (ending February 28) with sales at their High Street stores were down 5 percent, with same store sales also down 4 percent. Profits for that segment increased 2 percent (or £1m) to £50m, as “strong gross margin performance and costs were tightly controlled” saving costs of £6m over the six-month period with another £5m set to be cut in the second half. The numbers remain consistent with their fiscal 2014 results, in which High Street store sales fell 6 percent and same-store sales fell 5 percent, with book sales declining 8 percent. Release Looking Glass […]
