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Daily Mirror
Daily Mirror
Business
Levi Winchester

WH Smith to open 120 new stores after sales surged following end of Covid restrictions

WH Smith has announced plans to open more than 120 new shops worldwide after its sales surged following the end of travel restrictions.

The books and stationery company saw sales in its UK travel arm jump to £314million, up 66% from £189million compared to a year ago.

Bosses of the group said its travel business will represent over 70% of all revenues by the end of the year, as it continues to focus on airport and railway shops.

WH Smith confirmed more than 120 new travel shops are set to open as a result, including 60 in North America.

Meanwhile, its high street sales edged 1% lower to £266million.

But boss Carl Cowling hailed "strong" current trading and told shareholders performance was "ahead of expectations for the full year".

WH Smith said group revenues increased by 41% to £859million for the six months to February 28, compared with the same period last year.

Pre-tax profits rose to £45million from £18million in the previous half-year, the company said.

Mr Cowling, chief executive of the group, said: "We have seen a strong performance in the first half of the year, further strengthening our confidence in the prospects of our global travel business.

"Looking ahead, we are very well positioned to capitalise on the substantial growth drivers across our markets and we expect to make further good progress in the years ahead.

"Current trading is strong and we are ahead of expectations for the full year."

The update comes a month after WH Smith was hit by a cyber attack, with hackers accessing some workers' data.

WH Smith said names, addresses, national insurance numbers and dates of birth of current and former UK staff may have been among the data breached.

However, its websites and customer accounts were unaffected.

The firm said at the time: "WH Smith takes the issue of cyber-security extremely seriously and investigations into the incident are ongoing," it said.

"We are notifying all affected colleagues and have put measures in place to support them."

It added: "There has been no impact on the trading activities of the group.

"Our website, customer accounts and underlying customer databases are on separate systems that are unaffected by this incident."

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