January 24, 2018 / 7:31 AM / 6 months ago

BRIEF-WH Smith Says Sales Flat Year On Year For 20 Week Period To Jan 20

Jan 24 (Reuters) - WH Smith Plc:

* SALES FLAT YEAR ON YEAR AND LIKE-FOR-LIKE SALES DOWN 1% FOR 20 WEEK PERIOD

* HIGH STREET SALES WERE IN LINE WITH EXPECTATIONS FOR 20 WEEK PERIOD

* IN HIGH STREET, TOTAL SALES WERE DOWN 5% WITH LIKE-FOR-LIKE SALES DOWN 4% FOR 20 WEEK PERIOD

* GROSS MARGIN WAS UP YEAR ON YEAR ALTHOUGH SLIGHTLY LESS THAN ANTICIPATED FOR 20 WEEK PERIOD

* WHILE THERE IS SOME UNCERTAINTY IN BROADER ECONOMIC ENVIRONMENT, WE REMAIN CONFIDENT THAT GROUP IS WELL POSITIONED FOR YEAR AHEAD

* ‍”STORE OPENING PROGRAMME IN UK IS ON TRACK AND WE EXPECT TO OPEN AROUND 15 NEW UNITS THIS YEAR”​

* “BOOK SALES ON HIGH STREET IN 20 WEEKS PERIOD WERE MORE CHALLENGING DUE TO DECLINE IN SPOOF HUMOUR TITLES AND NO NEW, BIG PUBLISHING TRENDS”​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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