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WH Smith takes a hit on High St
STATIONERY group WH Smith said sales in the first 10 weeks of its fiscal year were flat after a strong performance across its travel business was offset by sluggish high street sales.
The retailer’s travel arm saw a seven per cent jump in sales in the period to 8 November as it launched new stores in airports and railway stations in the UK and overseas.
High street sales fell five per cent, but WH Smith said its gross margin had increased in line with expectations.