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WH Smith high street sales continue to fall
Thursday 5th June 2008, 1:47PM BST.
Stationery and entertainment retailer WH Smith said high street like-for-like sales slipped a further three per cent for the last 13 weeks.
Like-for-like sales at WH Smith Travel – the retailer’s airport, railway stations and motorway services arm – grew one per cent in the period, with a combined high street and travel sales fall of two per cent.
Recent acquisitions helped boost total sales, which were up six per cent, the retailer added.
In a statement, WH Smith said: “The economic environment remains uncertain and, while we continue to be cautious about consumer spending, we are confident in the outcome for the full year.”
The group’s financial position is in line with expectations, the retailer said.
The confident outlook helped shares in WH Smith to rise 0.31 per cent in mid-morning trading on the London Stock Exchange to 400.75p.
UK retail sales feel for a second month in April, as consumers stayed away from the high street.
Sales fell 0.2 per cent from March, when they dropped the same amount, according to figures released by the Office for National Statistics.
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