WHSmith has reported sales ahead of pre-pandemic levels for the first time as revenues soared off the back of a strong recovery in travel.
In the 15 weeks to June 11, 2022 the general merchandise retailer reported that group revenues were 107% of 2019 levels, driven by a particularly strong performance by its travel arm.
Travel sales were 123% of 2019 sales for the period, while high street trading stood at 79% of 2019 levels over the same period.
UK stores were 104% of 2019 levels, with WHSmith’s new ‘InMotion’ stores in UK airports a particularly highlight for the business. By channel in the UK, air was 114% of 2019 levels, hospitals were 102% and rail was 87% compared to 2019 levels.
US revenues were 111% of 2019 levels during the period, while the rest of the world was at 88%.
WHSmith said while the longer term outlook remains unclear, it’s “well-positioned to capitalise on the ongoing recovery in our key markets and take advantage of the many opportunities ahead”.
If customer travel continues strongly across the summer, WHSmith anticipates full year outturn to be at the higher end of analysts’ expectations.
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