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Shoppers look set to benefit from more discounts and offers on books and stationery this Christmas after WH Smith today said it expected “competitive trading” with its rivals in the coming months, and added that it had “planned accordingly”.
In the 10 weeks to 7 November, WH Smith said sales dipped 1% year-on-year, forced down by a 4% fall in cash going through the tills at its High Street branches. It said it was working on “rebalancing” the mix of its business towards “core categories” — the travel arm of shops it runs in offices and hospitals, train stations and airports.
Smith's also faced a 2% decline in those stores but claimed sales were hit by passenger numbers remaining soft, and that it was “well-placed to benefit when passenger numbers recover.”
That follows its first-quarter update, when the retailer said it was opening more stores in its travel division. It has more than 500 High Street shops, occupying seven times as much space as the travel branches, but raking in only £1 million more.
Smith said it “remained cautious about the consumer environment”. It has cut its advertising spend by 11% so far this year, according to research by Nielsen. It has not yet launched a Christmas television advert, but issued a festive catalogue with offers including 50% off new books by the likes of comedian Peter Kay and best-seller Marian Keyes.
