Results for the retailer were significantly boosted by a significant growth in e-commerce sales.
The retailer has reported that its high street division hit 74 per cent of January 2019 levels and 84 per cent of February 2019 levels, with both of these figures being ahead of previous forecasts. According to WH Smith, their trading was boosted by a significant growth in e-commerce sales, which form part of the retailer’s high street sector.
However, WH Smith’s travel division has continued to be significantly impacted by the Coronavirus pandemic. Revenues in this segment hit 35 per cent and 33 per cent of January and February levels respectively.
WH Smith has commented that they now expect monthly cash burn between January and March to be between £12M – 17M, compared to their estimated £15M – 20M.
