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WH Smith's sales 'flat' during latest 20-wee period

WH Smith is seeing a cooling high street business, while its travel business grows
WH Smith is seeing a cooling high street business, while its travel business grows

WH Smith, a seller of books, newspaper and stationery, said sales during the 20 weeks to January 20 were flat compared with a year earlier as gains from its travel shops were offset by a cooling high street business. 

The company, which has more than 1,400 stores, said total sales in its travel business rose 7% during the 20-week period, with comparable sales rising 3%. 

WH Smith, which has been expanding its travel business internationally, added six units at airports in Rome - adding another country to its presence in mainland Europe. 

The travel business has benefited from Britain's vote to leave the European Union, which pushed down the value of the pound, making the UK a more attractive tourist destination. 

However, the 225-year-old firm said comparable sales in its high street business fell 4% while total sales dipped 5%. 

The company has been trying to cut costs in the struggling segment, where sales have declined steadily since Brexit, even as it looks to step up its focus on the travel business. 

WH Smith said it expects to save about £12m in costs this year, slightly ahead of its target. 

"Looking ahead, while there is some uncertainty in the broader economic environment, we remain confident that the group is well positioned for the year ahead," chief executive Stephen Clarke said. 

WH Smith, which has over 580 travel shops at airports, railway stations, motorway service areas, hospitals and workplaces in the UK, said it was on track to open 15 new units in the country this year.