WH Smith shoot upwards as Travel arm soars

Retailer WH Smith (LON:SMWH) saw group sales increase by 4% for the 13 weeks ended 2^nd June relative to the same period last year. The bulk of the growth continued to come from the Travel division, where revenues were up by 8% as the company continued to expand and benefited from an increase in passenger numbers. The High Street segment continued to suffer, with revenues down by 1%.

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Analysts from Hargreaves Lansdown noted that the decline of the High Street branches appeared to be slowing, even when taking into account short term effects like the Royal Wedding. WH Smith’s share price was 2,098p at 1400 BST, up by 6.17% over this morning’s open.