WH Smith Bounces Back to Pre-Pandemic Levels

What’s in the news for equities today?

Well, it is the UK’s biggest books and stationery store WH Smith. 

WH Smith shares gained 7% on Wednesday after providing its trading update, which continues to benefit from its recovery in all key markets. 

For the first time, the retail store expects revenue to be ahead of 2019 levels. A particularly strong performance from travel saw revenue at 123% compared to 2019. 

It seems people have been desperate to travel; I couldn’t agree more.

WH Smith now expects annual trading to be at the top end of analyst expectations, good news for shareholders.

The group said they are due to expand further across the travel retail sector, as they have over 125 stores won and yet to be open. 

But WH Smith does not just plan to sell stationery. 

The company stated growth has been “driven by our ongoing focus to significantly enhance our ranges and develop our categories, such as health and beauty and technology.”

Evident from its recently opened InMotion stores across UK airports, which according to them, have performed well.

Of course, an update wouldn’t be complete without the company’s forecast.

And, despite the uncertainty in the global economy, the group feels well-positioned to capitalise on the ongoing recovery in its key markets. They also expect travel to perform well during the peak summer period.

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