WH Smith Shares Rise as Group Sees Q3 Revenue Above Pre-Pandemic Levels
2022.06.15 12:06
By Scott Kanowsky
Investing.com — WH Smith PLC (LON:SMWH) shares jumped toward the top of Europe’s STOXX 600 on Wednesday, after the British retailer said it was likely to report revenue ahead of pre-pandemic levels for the first time in the third quarter.
In a trading update, the company said revenue in the 15 weeks to June 11 rose by 107% compared to 2019, thanks to particularly strong performance at its travel business spurred on by a recovery in air passenger numbers.
The group also anticipates its full-year outturn will come in at the “higher end” of analyst estimates.
“We remain in a strong position to benefit from the significant growth opportunities across the global travel retail market and currently have over 125 stores won and yet to open,” WH Smith said in a statement.
WH Smith added that total revenue at its high street business remained below COVID-era levels, rising by 79%, due in part to the impact of a cyberattack on its online greeting card unit Funky Pigeon in April.
