WH Smith: shares slide despite 'strong' quarterly sales

(CercleFinance.com) - Bookseller and stationery group WH Smith on Tuesday reported "strong sales across the group" for the third quarter, but this performance failed to lift its shares in London this morning.


In the 11 weeks from 1 March to 18 May, total group sales were up 15%, with like-for-like sales up 1% year-on-year, the retailer said.

At its travel business, sales rose by 26% in the past quarter, with like-for-like sales up 3%.

However, sales at WH Smith's high street - or town centre stores - fell by 1%, with like-for-like sales also down 1%

The group also noted some "uncertainty in the broader economic and political environment," which resulted in its shares falling by 1.3% this morning.

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