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Retailer undaunted.

RESILIENT trading in its high street stores helped WH Smith stick by profit forecasts for the year.

A 4% fall in same-store sales for the 15 weeks to last Saturday was better than April's 6% decline and came despite tough comparisons with last year when the Royal Wedding boosted demand for newspapers and magazines. Like-for-like sales at its stores in airports, railway stations and motorway services areas fell by 3%. Both divisions increased margins.

Shares closed up 12.9p at 484.6p or 3% as Investec Securities increased its profits forecast by pounds 1m to pounds 100m for the year to August 31.
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Title Annotation:Business
Publication:Huddersfield Daily Examiner (Huddersfield, England)
Date:Jun 15, 2012
Words:103
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