WH Smiths Sales Grow

Thursday Oct 11

Popular Newsagents and Entertainment stockists WH Smith has seen its profits surge this year. Seasonal sales jobs are likely to increase to ensure this trend continues.

Kate Swann, WH Smith chief executive, said that she expected Christmas to be “very competitive” as the retailer delivered a 29 per cent rise in annual profits.
Kate Swan has successfully implemented a strategy focusing on cost cutting and selling a wider variety of products to improve the companies sales margin.  It has had an impressive effect.
With the Christmas period on the horizon, more sales jobs and retail jobs are likely to be available amongst the chains 543 high street stores, which accounted for 44 per cent of profits.

Interestingly the travel division, which includes the airport and station stores, accounts for 36 per cent of profits.  Ms Swann has since predicted that the travel business will outgrow the high street portion of the business.
“If you look at the graph at some point these lines will cross,” she said, she later added that it was “unlikely” that WH Smith's high street sales would see an uplift in the forthcoming years.

Share prices have not risen on the basis of this announcement, nor have any current trading numbers been issued. A first quarter update will be published on November 15.