{"id":2425,"date":"2023-05-31T18:31:14","date_gmt":"2023-05-31T18:31:14","guid":{"rendered":"https:\/\/latestnews.top\/2023\/05\/31\/wh-smith-upgrades-annual-outlook-as-airport-trade-continues-its-recovery\/"},"modified":"2023-05-31T18:31:14","modified_gmt":"2023-05-31T18:31:14","slug":"wh-smith-upgrades-annual-outlook-as-airport-trade-continues-its-recovery","status":"publish","type":"post","link":"https:\/\/latestnews.top\/wh-smith-upgrades-annual-outlook-as-airport-trade-continues-its-recovery\/","title":{"rendered":"WH Smith upgrades annual outlook as airport trade continues its recovery"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"js-article-text\" wp_automatic_readability=\"79.289451688399\">\n<h2>WH Smith boosts profit forecast as airport trade continues its recovery following relaxation of travel curbs<\/h2>\n<ul class=\"mol-bullets-with-font\">\n<li class=\"class\"><strong>WH Smith revealed total turnover grew by 23% for the 13 weeks ending 27 May<\/strong><\/li>\n<li class=\"class\"><strong>Despite industrial action, the firm&#8217;s rail outlets achieved a 10% rise in revenues<\/strong><\/li>\n<li class=\"class\"><strong>The FTSE 250 company has focused on expanding its travel arm in recent years\u00a0<\/strong><\/li>\n<\/ul>\n<p class=\"author-section byline-plain\">By <a target=\"_blank\" href=\"https:\/\/www.dailymail.co.uk\/home\/search.html?s=&#038;authornamef=Harry+Wise+For+This+Is+Money\" class=\"author\" rel=\"noopener\">Harry Wise For This Is Money<\/a> <a target=\"_blank\" rel=\"nofollow noreferrer noopener\" href=\"https:\/\/twitter.com\/intent\/follow?screen_name=harrywisey&#038;tw_p=followbutton\" class=\"twitter-follow-author\"><span class=\"follow-author\"><\/span><\/a> <\/p>\n<p class=\"byline-section\"><span class=\"article-timestamp article-timestamp-updated\"> <span class=\"article-timestamp-label\">Updated:<\/span> <time datetime=\"2023-05-31T16:47:07+0100\"> 11:47 EDT, 31 May 2023 <\/time> <\/span> <\/p>\n<p> <!-- ad: https:\/\/mads.dailymail.co.uk\/v8\/us\/money\/moneymarkets\/article\/other\/para_top.html --> <!-- CWV --><!--[if !IE]><!--> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-async-bundle\/6.52.3\/articleDefer.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <!--<![endif]--> <!--[if IE]>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/1.17.0\/registration--.css\" media=\"screen\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<![endif]--> <!--[if !IE]><!--> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/17.16.0\/registration--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <!--<![endif]--><!--[if IE]>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/1.17.0\/all-ie8-9--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/1.17.0\/all1-ie8-9--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<![endif]--> <!--[if !IE]><!--> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-sync-bundle\/8.32.0\/desktop.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/17.16.0\/all--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/><link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/17.16.0\/all1--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <!--<![endif]--><!--[if gte IE 8]><!--> <link rel=\"stylesheet\" type=\"text\/css\" media=\"screen\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-fff\/2.4.1\/styles\/fff.css\" \/> <!--<![endif]-->  <!--[if IE 8]>\n\n<![endif]--> <!--[if IE 9]>\n\n<![endif]--> <!--[if IE]>\n\n<![endif]--> <!--[if !IE]> -->  <!--<![endif]--><\/p>\n<p>   <!-- SiteCatalyst code version: H.20.3.\n    Copyright 1997-2009 Omniture, Inc. More info available at\n    http:\/\/www.omniture.com -->  <\/p>\n<p>         <!-- End SiteCatalyst code version: H.20.3. -->  <!--[if IE]>\n\n<![endif]--> <!--[if !IE]> -->   <!--<![endif]--><!--[if IE]>\n  \n  <noscript><link rel=\"stylesheet\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/gunther-2159\/video_bundle--.css\"><\/noscript>\n  \n<![endif]--> <!--[if !IE]> --> <link rel=\"preload\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/videoplayer\/6.21.1\/styles\/mol-fe-videoplayer.min.css\" as=\"style\" onload=\"this.rel=\" stylesheet=\"\" \/> <noscript><link rel=\"stylesheet\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/videoplayer\/6.21.1\/styles\/mol-fe-videoplayer.min.css\" \/><\/noscript>  <!-- <![endif]-->   <!-- CWV --><\/p>\n<div itemprop=\"articleBody\" wp_automatic_readability=\"61.273698630137\">\n<p class=\"mol-para-with-font\">WH Smith has boosted its full-year forecasts as loosening Covid-related restrictions continued to lift airport store sales during the spring period.<\/p>\n<p class=\"mol-para-with-font\">The retailer&#8217;s total turnover increased by 23 per cent year-on-year for the 13 weeks ending 27 May, with modest growth in high street trade complemented by a solid performance from its travel business.<\/p>\n<p class=\"mol-para-with-font\">Sales in the UK travel arm expanded by almost a quarter, which the firm credited to a rebound in passenger numbers, the launch of new categories, as well as bumper trade at electronics-led InMotion shops.<\/p>\n<div class=\"artSplitter mol-img-group\" style=\"style\" wp_automatic_readability=\"7\">\n<div class=\"mol-img\">\n<div class=\"image-wrap\"> <img fetchpriority=\"high\" decoding=\"async\" id=\"i-2e8b42f3d89953d8\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/05\/31\/10\/71600019-12142803-image-a-24_1685524188701.jpg\" height=\"426\" width=\"634\" alt=\"Good results: WH Smith revealed that turnover increased by 23 per cent in the third quarter\" class=\"blkBorder img-share\" style=\"max-width:100%\" \/> <\/div>\n<p> <noscript> <img decoding=\"async\" id=\"i-2e8b42f3d89953d8\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/05\/31\/10\/71600019-12142803-image-a-24_1685524188701.jpg\" height=\"426\" width=\"634\" alt=\"Good results: WH Smith revealed that turnover increased by 23 per cent in the third quarter\" class=\"blkBorder img-share\" \/> <\/noscript> <\/div>\n<p class=\"imageCaption\">Good results: WH Smith revealed that turnover increased by 23 per cent in the third quarter<\/p>\n<\/div>\n<p class=\"mol-para-with-font\">Its railway-based outlets also achieved a 10 per cent rise in revenues despite footfall on some days being impacted by Aslef and RMT workers striking over pay and conditions.<\/p>\n<p class=\"mol-para-with-font\">At the same time, turnover grew by more than a quarter in its North American travel business but climbed by 79 per cent throughout the rest of the world thanks to a rebound across Australia and Asia.<\/p>\n<p class=\"mol-para-with-font\">WH Smith&#8217;s growth was also heavily driven by opening new establishments at transit destinations, including Newark Liberty International and Kansas airports in the US.<\/p>\n<p class=\"mol-para-with-font\">Since the start of last September, the FTSE 250 bookseller&#8217;s travel segment has won more than 70 store tenders, meaning it now has over 130 outlets yet to open.<\/p>\n<p class=\"mol-para-with-font\">In April, <a target=\"_blank\" style=\"font-weight: bold;\" class=\"class\" href=\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-11993731\/WH-Smiths-profits-surge-amid-sustained-recovery-airline-travel.html\" rel=\"noopener\">WH Smith predicted its travel division would provide approximately 70 per cent of revenues<\/a> and about 85 per cent of earnings from trading operations by the end of the current financial year.<\/p>\n<p class=\"mol-para-with-font\">WH Smith said on Wednesday that its annual expectations have &#8216;modestly improved,&#8217; adding that it was &#8216;in a good position as we approach the peak summer trading period&#8217;.<\/p>\n<p class=\"mol-para-with-font\"><a target=\"_blank\" style=\"font-weight: bold;\" class=\"class\" rel=\"nofollow noreferrer noopener\" href=\"https:\/\/investing.thisismoney.co.uk\/quote\/SMWH\">WH Smith shares<\/a> were 2.4 per cent up at \u00a315.65 on late Wednesday afternoon, although they remain significantly below their pre-Covid peak of about \u00a326.60.\u00a0<\/p>\n<p class=\"mol-para-with-font\">Trading for most of the first two years of the pandemic was severely depressed by cross-border travel restrictions and a surge in people working from home.\u00a0<\/p>\n<p class=\"mol-para-with-font\">But while the company&#8217;s high street arm performed comparatively better at times, it has struggled for many years with weak sales and profits, underinvestment and stiff competition from retail giants like Amazon.\u00a0<\/p>\n<p class=\"mol-para-with-font\">Instead, WH Smith has focused on expanding the travel business, buying a raft of\u00a0former Dixons Travel outlets in summer 2021 and adding more InMotion stores.<\/p>\n<p class=\"mol-para-with-font\">Neil Shah, director of content and strategy at Edison Group, said: &#8216;WH Smith&#8217;s gradual transformation over the past two decades, transitioning from the high street to airport terminals, has played a crucial role in its resilience and expansion.<\/p>\n<p class=\"mol-para-with-font\">&#8216;With strong trading momentum, a growing pipeline of new stores, and recovering passenger numbers, the company is well-positioned to seize the opportunities presented by the peak summer trading period and beyond.&#8217;<\/p>\n<\/div>\n<p>            <!-- ad: https:\/\/mads.dailymail.co.uk\/v8\/us\/money\/moneymarkets\/article\/other\/inread_player.html --><\/p>\n<div class=\"column-content cleared\">\n<div class=\"shareArticles\">\n<h3 class=\"social-links-title\">Share or comment on this article: <\/h3>\n<\/p><\/div><\/div>\n<p class=\"mol-style-italic byline-section justify\">Some links in this article may be affiliate links. 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