UK book retailer WH Smith announced preliminary results for the year ended August 31, 2018. Overall, revenue increased 2 percent, at £1.262 million this year, with group trading profit up 3 percent, to £163 million, both driven by their travel division. Revenues from the High Street bookstores declined 3 percent, on both a like-for-like and overall basis, down to £590 million from £610 million. Book sales, however, declined further, falling 6 percent like-for-like. Stationery, meanwhile, continues to grow and now accounts for “about half” of High Street sales. (The company further noted it had successfully capitalized on the slime trend, […]
