WH Smith posts 15% jump in first-quarter sales

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Booking and convenience retailer WH Smith said its year-to date-sales had jumped after it rolled out new outlets at airports.

Sales in the 11 weeks from 1 March to 18 grew 15% on-year, including 4% growth from recently-acquired US business InMotion.

On a like-for-like basis, sales rose 1%.

In the travel business, total sales rose 26% and like-for-like sales rose 3%.

In the high street business, total sales 1% and like-for-like sales also fell 1%. Gross margin, however, continues to improve, and cost savings delivered in line with plan.

'We have delivered a strong sales performance in the third quarter in both our travel and high street businesses,' chief executive Stephen Clarke said.

'Whilst there is some uncertainty in the broader economic and political environment, we are well placed as we approach the key summer trading period in travel.'

'We continue to focus on profitable growth, cash generation and investing in the business to position us well for the future.'

'We remain confident in the outcome for the full year.'