WH Smith PLC Trading update (8661O)
15 Giugno 2022 - 8:00AM
UK Regulatory
TIDMSMWH
RNS Number : 8661O
WH Smith PLC
15 June 2022
WH Smith PLC
15 June 2022
Trading update for the 15 week period to 11 June 2022
Q3 trading ahead of 2019 revenue; strong performance from
Travel
Full year outturn expected to be at the higher end of
expectations
Further to the Group's Interim results announcement on 27 April
2022, the business continues to benefit from the ongoing recovery
across all our key travel markets, with Group revenue in the 15
weeks to 11 June 2022 ahead of 2019 levels for the first time at
107%, with a particularly strong performance from Travel.
We remain in a strong position to benefit from the significant
growth opportunities across the global travel retail market and
currently have over 125 stores won and yet to open. In addition,
there are a large number of ongoing tenders across our markets.
Total Group revenue in the period as a percentage of 2019 total
revenue has been:
% of 2019 Revenue (1)
Q1 Q2 15 weeks to
11 June 2022
---- ---- --------------
Travel 83% 81% 123%
---- ---- --------------
High Street(2) 87% 84% 79%
---- ---- --------------
Group 85% 83% 107%
---- ---- --------------
Travel
% of 2019 Revenue (1)
Q1 Q2 15 weeks to
11 June 2022
---- ---- --------------
UK 69% 72% 104%
---- ---- --------------
North America(3) 91% 91% 111%
---- ---- --------------
Rest of the World(4) 41% 48% 88%
---- ---- --------------
Total Travel (5) 83% 81% 123%
---- ---- --------------
Our UK business is performing strongly. As passenger numbers
recover, we continue to see strong ATV growth and higher
penetration driven by our ongoing focus to significantly enhance
our ranges and develop our categories, such as health and beauty
and technology. Our recently opened InMotion stores across UK
airports are performing well. In the 15 weeks to 11 June 2022,
Travel UK total revenue was at 104% versus 2019. By channel in the
UK, air was 114%, hospitals were 102% and rail was 87% compared to
2019 levels.
Our North America business continues to show strong momentum
with total revenue during the 15 week period at 111%(3) of 2019
levels. TSA (Transportation Security Administration) data recorded
passenger numbers for the month of May at c.90% of 2019 levels.
During the period we have won further stores, including 4 stores at
Chicago O'Hare airport. Las Vegas continues to perform
strongly.
1 Equivalent month in 2019
2 Includes internet businesses
3 P roforma, constant currency
4 Constant currency
5 As reported
In our Rest of the World division, we are now seeing recovery
across all our markets, including Asia and Australia, with the
strongest recovery in Europe. The first two stores (both in
Majorca) from our recent tender win in Spain have now opened and
are trading well. We anticipate opening a further 20 of the 31 new
stores won in Spain in time for our peak summer trading period this
year. We are in a strong position to capitalise on new space
opportunities. We have a strong tender pipeline and are in active
discussions regarding a number of tenders.
High Street
In High Street, total revenue in the 15 week period to 11 June
2022 versus 2019 was at 79%. This includes the impact from the
cyber incident on Funky Pigeon. We saw a good performance from our
Platinum Jubilee ranges which resonated well with customers, and
our focus on front of store mega deals is delivering good
results.
Outlook
While the broader global economy remains uncertain, the Group is
well positioned to capitalise on the ongoing recovery in our key
markets and take advantage of the many opportunities ahead,
including the 125 new stores won and yet to open, and our new store
formats and category development across multiple geographies.
Travel continues to perform strongly across all three divisions and
we expect this to be maintained into the peak summer trading
period. As a result, we now anticipate the full year outturn to be
at the higher end of analysts' expectations.
Enquiries:
WH Smith PLC
Mark Boyle Investor Relations 07879 897687
Nicola Hillman Media Relations 01793 563354
Brunswick
Tim Danaher 0207 404 5959
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTBUGDLCGBDGDS
(END) Dow Jones Newswires
June 15, 2022 02:00 ET (06:00 GMT)
Grafico Azioni Wh Smith (LSE:SMWH)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Wh Smith (LSE:SMWH)
Storico
Da Apr 2023 a Apr 2024