WHSmith pledges to open 110 new stores this year amid surge in travel sales
The retailer is expanding to have more stores in airports
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WHSmith has confirmed it plans to open 110 shops this coming financial year after reporting sales growth. In its latest financial statement, the retailer confirmed that this would include 15 stores in the UK, as well as more than 150 stores in North America.
The high street chain noted it was particularly boosted by its stores in UK airports, railway stations and hospitals in recent months. Over the 20 weeks to January 20, the company announced group revenues increased by eight per cent compared with the same period the year before.
WHSmith saw a decline in sales for its high street business
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Travel sales in the UK jumped by 15 per cent over the period with the overall travel division posting 12 per cent.
In its financial statement, WHSmith said: We continue to see improving passenger numbers across UK air, a strong performance in hospitals, and rail is performing well.”
However, this sales growth was offset by a decline in sales across the firm’s wider high street business.
Sales plummeted by four per cent for WHSmith’s high street business over the 20-week period to January 20.
Despite this decline, the group’s chief executive Carl Cowling eased concerns and touted WHSmith’s position within the market.
He explained: “The group is trading well and is in its strongest ever position as a global travel retailer. We are confident of another year of significant growth in 2024.”
Notably, Mr Cowling highlighted the strong performance by WHSmith’s North American business.
According to the group’s chief executive, the company has seen “substantial” growth potential thanks to its new stores.
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Footfall on Britain's high streets have dropped
PAMr Cowling added: “We continue to make excellent in North America, and I am particularly excited by the substantial growth opportunities that exist in this market.
“We are on track to open over 50 new stores in North America this financial year. In total, we are on track to open over 100 stores this financial year.”
The firm confirmed that this will include 15 new sites within the UK with plans to open a similar number each year in the near future.
Speaking to GB News, WHSmith confirmed that the new UK store openings will be in airports and railway stations but could not share a list of locations.
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