REG - WH Smith PLC - Trading Update <Origin Href="QuoteRef">SMWH.L</Origin>

WH SmithAnnouncement

12/11/2014 08:00

RNS Number : 7497W
WH Smith PLC
12 November 2014
12 November 2014
WH Smith PLC
Trading Update for the 10 Week Period to 8 November 2014
Total Group sales in the first 10 weeks of the financial year were flat with like-for-like sales down 1%.
WHSmith Travel total sales were up 7% and like-for-like sales were up 2%. Gross margin has increased in line with our plan and we continue to make good progress with our store opening plan both in the UK and internationally.
WHSmith High Street total sales were down 5% and like-for-like sales were down 4% in the period. Gross margin has increased in line with our plan and cost saving initiatives are on track.
On 16 October 2014 we announced our intention to return up to 50m of cash to shareholders via a rolling share buyback programme. As at 11 November 2014, we have purchased 0.6 million shares and returned 6.1m to shareholders.
The new financial year has started well however the peak trading periods for both businesses are ahead of us. We remain focused on profitable growth, cash generation and investment in new opportunities.
Enquiries:
WH SMITH PLC
Mark Boyle    Investor Relations020 7406 6320
Nicola Hillman  Media Relations 020 7406 6350
Brunswick
Simon Sporborg / James Olley  020 7404 5959

This information is provided by RNS
The company news service from the London Stock Exchange
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