WH Smith

High-street sales at WH Smith have slumped

Sales are continuing to fall at WH Smith.

In a trading update released this morning, the news, stationery and books retailer revealed total group sales in the 14 weeks to 8 June fell 5%, with like-for-like sales down 6%.

In its high-street stores division, total sales slumped 8%, or by 7% on a like-for-like basis.

But there was better news for its travel stores, where like-for-likes were down by only 4%. Total sales were flat.

The retailer added that its financial position was “in line with market expectations” and its balance sheet was “strong”.

“The economic environment remains uncertain and while we continue to be cautious about consumer spending, we remain confident in the outcome for the full year,” it added.

CEO Kate Swann is set to leave the company at the end of this month.