UK retailed WH Smith issued a brief trading update, covering the awkward period of the 18 weeks ending July 1 (e.g. roughly a third of the year). High street bookstore sales were down 14 percent compared to the norm in fiscal 2019 — or, as they like to put it, 86 percent of the previous level. Second quarter sales were down 16 percent, and first quarter sales were down 12 percent on the same comparison basis. “This performance reflects high street footfall which remains below pre-pandemic levels.” Their travel stores are recovering a little, though still suffering badly, at 48 […]
