WH Smith still on the slide in High St battering

 
14 November 2013

Books, newspapers and stationery retailer WH Smith saw same-store sales fall another 4% in the 10 weeks to last Saturday.

The high street stores took most of the battering, with like-for-like sales down 6%, while the travel outlets at stations and airports showed a 2% drop.

Smith said gross margins had risen in the travel business and it had made good progress in opening outlets in the UK and overseas.

It added: “Whilst the current climate continues to be uncertain, we remain a resilient business and are well positioned for continued profitable growth both in the UK and internationally.”

Further down the High Street Carphone Warehouse reported a jump in half-year profits from £4 million to £19 million as it continues to cut costs and customer interest in 4G phones rises. Sales were up 8% at £1.5 billion.

Chief executive Andrew Harrison said: “We are in excellent operational shape to take advantage of the key Christmas trading period and are encouraged by the growth of 4G as it starts to arrive across all the major networks.”

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