UK retailer WH Smith reported annual results through August 31. In line with the long-term trend for Smith, their growing travel store business added more sales than their slowly declining high street bookstore business lost. For the first time, travel is the larger segment, with sales of £624 million, versus high street sales of £610 million (down from £639 million a year ago, or 5 percent). High street “trading profits” (before unallocated costs, finance costs and taxation) were flat, at £62 million, though that was with another £12 million of cost savings. The company make clear that “over the next […]
